Re: Seminar: Value redundancy and price value deviations

From: Paul C (clyder@GN.APC.ORG)
Date: Tue Sep 21 2004 - 16:57:28 EDT

Alejandro Valle Baeza wrote:

> One important aspect  of Paul Cockshott's paper  is which are
> convenient measures for value price deviations. However critics to
> labor theory of value argue that measuring value price deviations
> show  why is value redundant. One good example of this sort of
> thinking is W. Paris (1982):
> Parys predicts discrepancies between labor values and production
> prices using technical compositions of capital vertically integrated
> in *production-price terms. * Pary's two main arguments are:
>      a) A mathematical demonstration that technical composition of
> capital vertically integrated *in price *always predicts correctly the
> sense of deviations between labor values and production prices.
>      b) A counterexample probing that the value composition of
> capital, the variable used by Marx ,fails in at least one case to
> predict sense of deviations between labor values and production prices.
> Then this is a critique that seems be both irrefutable and very well
> argued that way inaugurated by Ian Steedman of considering redundant
> and contradictory the Marxian theory of value.
> Parys, W. (1982). "The Deviation of Prices from Labor Values".
> /American Economic Review/: 72(5), pp. 1208-1212.
Does Parys work use empirical data, or is it purely theoretical?

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