[OPE-L:1905] Re: value-form theories

Subject: [OPE-L:1905] Re: value-form theories
From: Gerald Levy (glevy@PRATT.EDU)
Date: Sun Dec 12 1999 - 10:07:52 EST

Re Fred's [OPE-L:1902]:

> Jerry, what is R-W's theory of prices? If the magnitude of prices is not
> determined by quantities of abstract labor, then what is the magnitude of
> prices determined by, according to R-W?

Fred: for some time I have felt rather uneasy answering questions like
this. Let me tell you why by way of analogy.

Suppose we are all seated in a big dining hall. After we finish eating, we
have an after-dinner conversation. It turns out to be quite a lively and
enjoyable conversation. The *subject* of the conversation, though, is the
theoretical perspective of two of the people who are seated at our table.
The two are either pre-occupied by finishing their meals (and/or drinking
wine) or having an after-dinner snooze.

I, for one, am becoming more and more uncomfortable talking about their
perspectives for this reason and I am inclined to say that we should wait
till they wake-up (or sober-up or digest their food) so that *they* can
answer these questions. Otherwise, we might end up debating perspectives
which we *think* they have but which may be very different from what they
*actually* have.

It is perhaps rather ironic that Mike W, who has been so active in many of
our past discussions, is pre-occupied (with the curse of laboring for a
wage) at the precise moment in time when we are considering his (and
Geert's) book. I think for this reason we are going to have to recognize
that this thread will have to proceed both now and at some uncertain
moment in the future (when presumably, and hopefully, the rest of us still
want to engage in this conversation) when Mike and Geert will un-cloak
like Romulan war-birds and offer answers to all of our questions.

btw, I think this has been a very good discussion and hope it continues.

In solidarity, Jerry

This archive was generated by hypermail 2a24 : Sun Dec 12 1999 - 15:45:04 EST