[OPE-L:5705] Re: Re: Response to Fred - 1

From: Rakesh Narpat Bhandari (rakeshb@Stanford.EDU)
Date: Thu May 31 2001 - 18:00:18 EDT

Judging from the list discussion, I would like to say I agree with 
the VF emphasis on the actualization of value in exchange, appreciate 
the VF probing of the meaning of abstract labor (including Riccardo's 
attempt to understand abstract labor as alienated potency), agree 
with the monetary and macro parts of Fred's interpretation, find 
attractive the Gouverneur-Shaikh iterative solution to the 
transformation problem (though I don't really think the inputs are in 
the form of commodity values, as Fred and Alejandro have argued), 
agree with Allin's underlining that any interpretation of Marx's 
value theory should make sense of the thesis of double divergence, 
appreciate Allin and Paul C' empirical work on the strength of the 
tendency of the profit rate to equalize, do find the sequential, 
dynamic, difference equations approach of TSS (Ernst, Kliman, Freeman 
and Carchedi) to be right on the money (so to speak), and have 
learned from Ajit's attempt to figure out whether different 
problematics are  working at cross purposes in Marx's value theory 
(though I think making sense of the possibility and necessity of 
crises of general, as opposed to partial, overproduction on the basis 
of the nature of money was Marx's main problem throughout, including 
in Capital I, part I--not the division of labor as Ajit has it, but 
then I am a student of Grossmann and Mattick Sr).

I don't see how the neo Ricardian theory gets off the ground since it 
does not have a theory of money; don't agree that marx's theory of 
the falling rate of profit can be tested in terms of models which 
employ the methodology of comparative statics; the infinite regress 
critique seems to me trivial; the thesis that the use value of any 
commodity can be productive of value seems to me to based on a 
refusal to accept Marx's definition of value as labor time alienated 
or objectified in a commodity--not simply any product of labor.

It's 102 degrees here today, and it's easier to type than pack and move boxes.

Yours, Rakesh

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