Re: [OPE-L] Truncating Marx's "Capital"

From: Fred Moseley (fmoseley@MTHOLYOKE.EDU)
Date: Mon Sep 03 2007 - 22:01:15 EDT

Quoting Paul Zarembka <zarembka@BUFFALO.EDU>:

> Every scientific approach has problems; we don't reach TRUTH.  If
> anyone claims that Marxist economics is destroyed because of the
> transformation problem, we can quickly reply that mainstream
> economics has its own problems of price determination yet it is not
> considered destroyed.

I definitely agree with this.  And we should continue to emphasize this point.

> Those who want to batter Marx with transformation problems, want to
> batter Marx.  Their deeper reasons lie elsewhere.

I agree with this too.  I am trying to make it harder to batter Marx,
especially in the minds of students.  Not the economists; they are hopeless.

> More responsible scholars ask "what else do you have to offer?".
> Fred, you are one of those you have offered a lot of empirical
> research on the development of the U.S. economy.  Are you still
> working in that area?

I am still working on applied empirical work, although not the
derivation of estimates of the Marxian variables, as in my earlier
work.  I have become more interested in debt problems, and of course
right now the sub-prime morgage bust.


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