RE: [OPE] The Labour Theory of Value: a Marginal Analysis

Date: Wed Sep 17 2008 - 06:49:41 EDT

> The controversial matter is the potential mistakes that this power station manager could
> commit if she doesn’t pay attention to the independent variable –if institutionally speaking
> the system allows freedom of choice.
Hi Alejandro:
It may seem a trivial point, but the production manager would not pay attention to
this "independent variable" because it's not her job. Perhaps there is someone else
within the managerial bureaucracy who considers that question but, probably not,
because of the industry selected in this example.
In any event, the use-value that you are referring to can not be known ex ante.
It can only be known ex post - when and if the commodities are sold. This is
the case in general with market activity - risk and uncertainty are inherent
characteristics of markets. This is - from a macro perspective - an inherently wasteful
and inefficient method for determining the distribution of resources.
In solidarity, Jerry

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Received on Wed Sep 17 06:53:58 2008

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