Re: [OPE-L] questions on the interpretation of labour values

From: Philip Dunn (hyl0morph@YAHOO.CO.UK)
Date: Tue Feb 20 2007 - 17:40:02 EST

On Tue, 2007-02-20 at 16:07 -0500, Jerry Levy wrote:

> There is much talk about value determination (and determination of
> PoP) but what about the determination of market prices?  Some times
> Marxists simply revert to saying that individual market prices are
> determined by S and D.  But, isn't there are a _class_ analysis that we
> can bring to an examination of the determination of market prices?
> Don't we have something more and different to say about market
> price determination than what has been said by mainstream economists?
> Don't we need some 'microeconomic' theory of market price
> determination rather than only a  aggregate perspective?
> In solidarity, Jerry

We don't need a theory of market price determination or of value
determination. There can be no ex ante determination of value any more
than there can be an ex ante determination of market prices.

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