[OPE-L] Robust correlations between prices and labour values

From: Jurriaan Bendien (adsl675281@TISCALI.NL)
Date: Fri May 05 2006 - 07:33:01 EDT

I don't have a clue what this means either. To my knowledge, Marxian
labour-values can be measured statistically only indirectly, as:

1) observed quantities of labour-time worked.
2) observed exchange ratios of products.
3) observed or derived money-prices of products, of some description.

Often  measurement of Marxian values occurs via some proxy variables,
thought to reflect closely what product-values are.

However, national accounts definitions of gross and net output do not
necessarily reflect "real" output prices realised, because they are adjusted
(ideal) prices, reflecting an accounting concept of "production", and an
accounting concept of "value-added", i.e. a particular view of what costs
and revenues should be included in the calculation, and how they should be
valued. Consequently, measurements based on official input-output data are
at best an approximate indicator of real economic trends.

Kliman seems to want to argue that there is no strong correlation between
values and prices, but even if this could be proved, I think it would
undermine the Temporal Single System approach.


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