Re: [OPE] peanut butter value-form theory

From: Alejandro Agafonow <>
Date: Sat Apr 04 2009 - 17:00:12 EDT

Zachariah.-   “A scalarquantity that allow different goods and services to be compared for the purpose of managing resources” is a ‘theory of exchange’ Zachariah, not a ‘theory of value’. ‘Value’ is a deeper phenomenon which goes to the more fundamental question of the ‘worth’ of resources and includes in itself a theory of exchange. As has happened with the central planned economies, if you only can compare goods and services you take the risk of a systematic mismatch between commodities and the real preferences of people. Up to now central planned economies only have overcome this introducing quasi-market arrangements.   I don’t have an alternative theory of value. I work under the framework of the subjective theory of value. Its testable claims? The real world institutions and practices which day after day let you enjoy a pile of commodities that make your life easier and that you, Zachariah, just take for granted.   Regards,A. Agafonow ________________________________ De: Dave Zachariah <> Para: Outline on Political Economy mailing list <> Enviado: viernes, 3 de abril, 2009 13:26:29 Asunto: Re: [OPE] peanut butter value-form theory 2009/4/2 Alejandro Agafonow <> The fact that “what can be subjectively preferred and consumed by the community is clearly constrained by the total labor force” doesn’t lead to the conclusion that ‘value’ lies in the causal powers of labor. To understand what 'value' is one have to answer what makes the objective cost structure of the economy change. What is the primary force that cause a disruption in the objective cost structure?   Before giving my answer You asking about the dynamics of the objective cost structure but not its existence in itself.  As I wrote before 'economic value' means a scalar quantity that allow different goods and services to be compared for the purpose of managing resources. What alternative theory are you proposing that explains this phenomena and what --- if any --- are its testable claims? You are persistently being unclear about this. //Dave Z

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