Re: [OPE-L] Robust correlations between prices and labour values

From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Wed May 03 2006 - 09:34:39 EDT

> I recommend:
> "Robust correlations between prices and labour values: a comment" by 
> W. Paul Cockshott and Allin Cottrell in Cambridge Journal of Economics 
> 2005, 29, 309-316 
> "The paper addresses Kliman's criticisms of the observed correlations between
> prices and labour values. It argues that the notion of spurious correlation is not
> relevant in this case. It examines Kliman's own simulations and shows that his
> statistical correction techniques involve dividing through by the signal to 
> leave the noise." (my emphasis)
> It is clear like water to me.

Alejandro, Paul and Allin,

A question: is "dividing through by the signal to leave the noise" a common or
uncommon problem in articles published by scholarly journals? Are there any other
examples that you can think of from heterodox economics or Marxian journals?

In solidarity, Jerry

PS:  Alejandro,  to say "it is clear as water" to not so clear nowadays in an epoch
of history in which much of the world's water supply is polluted.   Water often
_appears_ to be clear to the naked eye but an examination under a microscope or 
a chemical analysis will often reveal something less clear.

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