Re: (OPE-L) Ajit's paper

From: Paul Zarembka (zarembka@BUFFALO.EDU)
Date: Tue Jun 01 2004 - 09:55:55 EDT

Rakesh Bhandari <rakeshb@STANFORD.EDU> said, on 06/01/04:

>How is Marx's theory of value to be
>verified or confirmed? How is the retroduction (Bhaskar) to value
>relations to be validated? But Marx already answered that. He not only
>deduced that value relations had to be expresed through exchange value and
>that he therefore had to work out the mediations of that expression, he
>was also able to explain the laws of motion on the basis of his mediated
>theory of value.  ...

>Marx's deduction is sounder than Bohm Bawerk's (only if there is a common
>substance is it likely that exchange ratios would have some stability;
>general use value is not a good candidate on simple logical grounds as
>abstract labor--see Hilferding, Boudin, William J Blake, Carchedi); Marx's
>deduction is retroactively validated (Postone) by the real relations that
>he able to lay bare on the basis thereof. Which includes intertemporal
>change in exchange ratios, as Shaikh and others have argued.

>  So the answer to my questions: the same way that Eddington confirmed
>Einstein. Marx is validated by the real tendencies that he was able to
>explain and predict--concentration, centralization, general crises,
>structural limits to working class advance, eventual working class
>retrogression, the breakdown of capitalist fraternity. Wassily Leontief
>realized the towering superiority of Marx over all rivals.


You are dropping names, but not answering Ajit's question what is 'value'.

Anyway, you claim a lot for Karl; just what we always needed to be certain our revolution was just, true and the only possible one.  Actually we don't even need this list for Karl has answered all our questions.  Jerry, please close the list and get on with the revolution (perhaps starting by getting rid of "Chavez's authoritarian regime", quickly followed by a general uprising in Latin America under the banner of the "towering superiority of Marx") .

Paul Z.

Vol.21-Neoliberalism in Crisis, Accumulation, and Rosa Luxemburg's Legacy
RESEARCH IN POLITICAL ECONOMY, Zarembka/Soederberg, eds, Elsevier Science

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