[OPE-L] Where Rakesh gets it wrong

From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Thu Dec 07 2006 - 13:02:56 EST

Rakesh said:

>What did it then purchase--the worker's ability to perform labor...We
>all know the story...If the labor theory of value is true, then that
>ability must have a lesser value than the value added by expenditure
>of labor. And indeed input output analysis confirms that as true--as
>even the critic Meghnad Desai himself underlines.

This is wrong. Input-output statistics refer only to the labor-compensation
component of inputs and outputs. Those statistics cannot themselves prove
anything about the nature of the exchange between capital and labor, that's
an interpretation. Moreover a non-Marxian labour theory of value can be
constructed which does not rely on Marx's exploitation theory. Actually, the
conceptual difference between Marx and Ricardo as regards "labour-power" and
its sale was probably less than it is made out to be. See in this regard:
Ian Steedman, "Marx on Ricardo", in: Ian Bradley and Michael Howard (eds),
Classical and Marxian Political Economy - Essays in honour of Ronald L.
Meek". London: Macmillan, 1982.


You can try hard, don't mean a thing
Take it easy, easy, in the jive'n swing
Ain't what you do, it's the place that you do it
Aint what you do, it's the time that you do it
Ain't what you do, it's the way that you do it
That's what gets results

- Bananarama, "Ain't what you do"

This archive was generated by hypermail 2.1.5 : Sun Dec 31 2006 - 00:00:04 EST