[ show plain text ]
You have given me a lot to think about
--whether Marx's labor theory of value collapses in the face of non constant
--whether average or marginal conditions determine market value and/or market
price in equilibrium
--whether Marx's idea of strong demand shift is equivalent to price inelasticity
--whether Marx confuses a shift of and a shift on a demand curve
--whether it is simply impossible to build demand into the concept of value
without falling into a subjective UTILITY theory of value (I think so).
I will say that my belief that Marx was not primarily concerned with a
theory of relative prices in no way relieves me of attending to
difficulties in the ideas about price theory which he does develop in Vol3,
I would like to attend to this post, and understand the things Makoto I and
Paolo G have said about this chapter as well. But I will be out of
commission for more than a month. (Pleasant summer everyone!)
But interesting problems indeed. I must say that I get the sense that we
understand different things by the same terms. Again I am to blame for not
attending to bourgeois price theory to catch your meanings.
It would be nice if those with expertise attended to your challenges.
All the best, Rakesh
This archive was generated by hypermail 2b29 : Mon Jul 31 2000 - 00:00:04 EDT