Re: [OPE] replacement cost and historical cost (again)

From: Michael Perelman <>
Date: Mon Aug 31 2009 - 20:26:56 EDT

Marx used historical labor prices when describing the production of an
individual economy -- what he called antecedent labor.

Marx especially in v. 2, Marx turned to coexisting labor, based on the work
of Thomas Hodgskin.

In my book, Karl Marx's Crises Theories, I make the case that Marx became
more sensitive to reproduction costs in light of the Civil War cotton

Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail michael at
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Received on Mon Aug 31 20:29:31 2009

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