Re: [OPE] peanut butter value-form theory

From: Dave Zachariah <>
Date: Tue Apr 07 2009 - 05:21:58 EDT

2009/4/7 Alejandro Agafonow <>

> The link that you provided doesn’t say anything about the ‘worth’ of
> resources.

Alejandro, what does the "worth of resources" mean to an agent, whether
human or not? It means precisely that the resources are commensurable by
means of a metric: 'economic value'.

> I’m not suggesting that each production process in a capitalist economy is
> directed by an entrepreneur,

That, however, is the implication of your constant reference to the mythical
entrepreneur who is responsible for the dynamism of a capitalist economy in
your theory.

> these entrepreneurs have not confirmed the predictions of the labour theory
> of value.

Then you have not kept up with the empirical research on the issue since
Prices are highly correlated with labour values. Moreover, sectors with
higher capital intensity earn lower rates of profit.

This is what the stochastic labour theory of value predicts.

//Dave Z

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Received on Tue Apr 7 05:24:03 2009

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