Re: [OPE-L] Okishio Theorem - does anyone think it is relevant?

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Wed Nov 07 2007 - 11:36:28 EST

Hi Anders,
Marx's critique of Ricardo includes the following: Ricardo did not
understand the value form in terms of the mutually assuming/mutually
exclusive rleation between relative and equivalent form; he did not
understand how capital, not organic chemistry, provided capital with its
most important limit; due to faulty abstraction and absence of mediation
and lack of dialectics in general Ricardo did not theorize the dynamic
consequencs of the immament contradiction, viz. opposed tendencies of
regulation by price by law of value and the adjumsnt of prices to allow
equalization of profit rate.

At the same time Marx accepts Ricardo on following points:

 1. A working day of a given length always creates the same amount
of value, no matter how much the productiveness of labor may vary. 2. Surplus
value increases as the value of labor (power) diminishes. 3. An increase
or diminution of surplus
value is the result of, and never a cause of, a corresponding change in
the magnitude
of the value of labor power."  From William J Blake and II Rubin on Marx's
debt to Ricardo.

I don't think the debate is about TSSI per se but about our understanding
of the significance of Marx's critique of Ricrado.

TSSI, along with Geoffrey Pilling and precious few other Marxists,
actually agee with Marx's critique of Ricardo.

They think it's worth defending Marx's towering achievement.


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