[OPE-L:2274] Re: Modal Quiz

Fred Moseley (fmoseley@laneta.apc.org)
Sat, 18 May 1996 12:16:02 -0700

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I agree with Duncan's answers to the two questions. I think he has struck
the proper balance between abstract tendency and empirical complications.

I would also argue that Marx's theory of prices of production are about
long-run equilibrium prices. Marx's theory is about the equalization of
profit rates and attempts to determine the abstract prices that would obtain
if that process were complete, i.e. when no further equalization occurs in
the next period.