Re: [OPE] Mistaking Mathematical Beauty for Economic Truth

From: Ian Wright <>
Date: Tue Sep 15 2009 - 13:04:12 EDT

> Entrepreneurial uncertainty, which is the basis of disequilibrium prices, is
> the crux of real market economies, and it is subjected to countless
> additional conditional assumptions that make its mathematical treatment
> fruitless. Unless labor value theorists stop to think in terms of labor
> determined prices driven by natural price equilibrium, they won’t be able to
> introduce any dynamic proviso to their account of capitalism. Unfortunately
> for them, this change would be devastating for the integrity of the
> transformation thesis.

Why are aggregate market prices highly correlated to labor-values?

What do you think economic value actually is? More precisely, what, in
your view, does 1$ represent?

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Received on Tue Sep 15 13:06:21 2009

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