[OPE-L:7038] [OPE-L:533] Re: Re: Law of one price and equilibrium

Alejandro Valle (valle@servidor.unam.mx)
Fri, 26 Feb 1999 14:04:08 -0600

I think that Lefteris and Jerry are right in some way. There are
empirical evidence against LOP supporting Jerry claims. But at the same
time prices can no be quite different for the same use value. I
understand that this is an important aspect of Marxian theory. As I
remember, John Weeks pointed out that in capitalist societies the
tendency to equalizing productivitys is an essential aspect of thw law
of value. It implies that prices can not be quite different for the same
merchandise, even in the world market.
Of course, "not quite different" is a vague proposition. I am sure such
proposition shuld be and could be elaborated more.

Dr. Alejandro Valle Baeza Div. Posgrado, Fac. Economia UNAM, Ciudad Universitaria Mexico 04510, D.F. (525)6222148, fax (525)6222158 e-amail: valle@servidor.unam.mx