From: Jerry Levy (jerry_levy@VERIZON.NET)
Date: Sat Jan 26 2008 - 16:07:27 EST
> I.Do you know any answer (at least a beginning of, even bad ) to > the best (? !) and last (? !) challenge / criticism of Ian > Steedman : "... no theory - explanatory or normative - that works > only for a closed economy is worthy the paper it is written down > on ", Hi Paul C: Putting aside for the moment the specific criticisms of Marx and Marxians which Steedman made in his paper, this general point is valid. Hence, the only worthy answer is that he's right -- on this general point, at least. The best way to respond to the criticism is by presenting a theory based on Marx's theory of value for international trade and the world market which addresses his critique. In solidarity, Jerry > in Marx After Sraffa and the Open Economy > (Some Notes), 2002.
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