From: Ian Wright (wrighti@ACM.ORG)
Date: Tue Mar 13 2007 - 16:47:21 EDT
Hi Anders I am in complete sympathy with your methodological advice. I have recently been investigating the literature on cross-dual dynamics, such as the work of Semmler, Dumenil and Levy etc. The models are deterministic and assume well-defined commodity types and a single prevailing price for the same good. The literature has some strengths and some weaknesses. I wonder whether you could point to any other work that might more closely meet your methodological requirements? Regarding the importance of dynamics for value theory: it seems to me that in principle it is not possible to claim that a static model demonstrates that price refers to amounts of labour-time. At best a static model may show there is a conservative transform from one to the other (or lack of such a transform). But a claim of reference requires a semantic analysis. And semantics are ultimately grounded by "lawful" causal linkages. This is why I think dynamic models are necessary to understand the theory of economic value. Thanks, -Ian.
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