Re: (OPE-L) is value labour?

From: clyder@GN.APC.ORG
Date: Tue May 06 2003 - 17:32:27 EDT

Quoting Christopher Arthur <cjarthur@WAITROSE.COM>:

> I may not have time to intervene at length.
> One point for now. Any theory will have some statements that are true by
> definition or which are assumed without proof. But there must be a
> substantive claim which is to be tested.
> I had alawys assumed that the said claim in our case is "The magnitude of
> value is determined by socially necessary labour time." For this to be
> substantive it is obviously the case that value cannnot be defined as
> labour or identified by assumption because then it would reduce to a
> tautology. So my question to those who say "Value is Labour" is this: what
> IS the substantive claim?
> Chris

The claim is that prices are highly correlated with values, with
changes in values inducing a change in prices.

> 17 Bristol Road, Brighton, BN2 1AP, England

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