[OPE-L:6485] Re: N. Sieber

From: Rakesh Bhandari (rakeshb@stanford.edu)
Date: Thu Jan 31 2002 - 15:18:29 EST

I was wondering whether you know Amartya Sen's On the Labor Theory of 
value: some methodological issues, CJE 1978 2, 175-190

I heard echoes of you when I read:

"...if value is of descriptive interest IN ITSELF, then one may be 
inerested in the relationship between values and prices even if this 
is not a convenient way of calcuating prices with given physical 
data, or a good way of predicting future prices. Value is then 
treated not as an 'intermediate product' in some calculational or 
predictive exercise but a as a concept of interest in its own right." 
p. 182


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