Re: [OPE] peanut butter value-form theory

From: Dave Zachariah <>
Date: Sun Apr 05 2009 - 06:22:39 EDT

Alejandro wrote:
> “A scalar quantity that allow different goods and services to be
> compared for the purpose of managing resources” is a ‘theory of exchange’

It is not really a theory of anything, just an attempt to make clear
what 'economic value' means irrespective of a theory of this scalar
(i.e. how it comes emerges in real historical processes or what function
it may have in the dynamics of certain economies). It is certainly not a
theory of exchange, only orthodox economics would think that economic
evaluation requires exchange of commodities. There are more ways this
could work and has worked in history.

> ‘Value’ is a deeper phenomenon which goes to the more fundamental
> question of the ‘worth’ of resources

Precisely this is what my clarification above says.

> I don’t have an alternative theory of value. I work under the
> framework of the subjective theory of value.
These two sentences contradict each other. Unless you meant to say that
your 'subjective theory of value' has no testable claims, then of course
it would not be a scientific theory at all.

Indeed you were unable hint at any testable content in your reply to me:
> 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
> just take for granted.
In your reply to Allin, however, you did seem to suggest some
mechanisms. Your theory seems to rest on some mythical agent known as
the 'entrepreneur'. Are you suggesting that each production process in a
capitalist economy is directed by an entrepreneur?

For the sake of argument let's suppose that is the case. I ask you:

    Why have these entrepreneurs made decisions that have confirmed the
    predictions of the labour theory of value?

//Dave Z
ope mailing list
Received on Sun Apr 5 06:27:50 2009

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