[OPE-L:1965] Re: "actually existing capitalism"

Steve.Keen@unsw.EDU.AU (Steve.Keen@unsw.EDU.AU)
Thu, 25 Apr 1996 15:59:14 -0700

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A quick reply before I hit the road for the day. Gil questions:
*centrality* of the case of price-value equivalence to the Marxian
theory of capitalist exploitation. Why focus on it at all, given that
a) as Marx acknowledges, prices typically diverge from values,
and Gil goes on to argue that there is circularity in Marx's argument
on the primacy of wage labor.

In a word, I agree--IF the centrality of wage labor is all that
emerges from Marx's focus on explaining surplus from the exchange
of value equivalents. However, I argue that something quite different
emerges if you start from his exchange-value/use-value logic: a
complete alternative to the subjectivist theory of value of the
neoclassicals, which is not based upon a labor theory of value.

I'll hold off on elaborating this until I get a few responses on
whether my starting point--the exchange-value/use-value dialectic--
is accepted by OPE members as one of Marx's starting points.

I'd better also apologise in advance for some hassles in my email.
At home, I am "cut off" from my references because of problems getting
email to work remotely under Windows NT. As a result, my email comms
are under Windows, and my references are stored on an inaccessible NT
compressed drive. So occasionally I'll be forced to wait several days
until I can access my work site, where email functions under NT.