tag:blogger.com,1999:blog-6245381193993153721.post5941977504165949267..comments2024-03-28T17:08:15.784-07:00Comments on Social Democracy for the 21st Century: A Realist Alternative to the Modern Left: The Foundation of Marx’s Labour Theory of Value in RicardoLord Keyneshttp://www.blogger.com/profile/06556863604205200159noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6245381193993153721.post-42759995422477946722015-03-30T00:55:03.979-07:002015-03-30T00:55:03.979-07:00Except that
a) Value theory != price theory
b) V...Except that<br /><br />a) Value theory != price theory<br /><br />b) <a href="http://mpra.ub.uni-muenchen.de/1290/1/MPRA_paper_1290.pdf" rel="nofollow">Values != equilibrium prices</a>Hedlundnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-17421922593371563362015-03-29T18:27:17.881-07:002015-03-29T18:27:17.881-07:00"How do you properly define the “comparative ..."How do you properly define the “comparative quantity of labour which is necessary” for production as a homogeneous unit that can function as a universal measure of the labour value of all commodities?"<br /><br /><- Very simple. You just say that for simplifying analysis you assume labor is homogenous. That's it. I agree it's an assumption that can lead to extremely misleading conclusions such as legislating the same hourly pay for everyone.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-11405926136508467692015-03-29T18:03:56.634-07:002015-03-29T18:03:56.634-07:00Religious or not the core problem is that there ar...Religious or not the core problem is that there are no good reasons for values (= equilibrium prices) to be proportional to labor used in production. There is a similar problem for Ricardian/Sraffian idea of profit rate equalization. Why should we use price theories that simply come from imagination of philosophers or economists and have zero empirical support?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-79660452746579076862015-03-29T12:54:11.302-07:002015-03-29T12:54:11.302-07:00Claims of the "religious" status of Marx...Claims of the "religious" status of Marxian value theory are themselves religious, based on hearsay and fervent desire rather than an actual understanding of his arguments.<br /><br />I invite newcomers to refer to the sources linked at the bottom of <a href="http://socialdemocracy21stcentury.blogspot.com/2015/03/progress-in-marxism-on-labour-theory-of.html?showComment=1426718956237#c4892971105644118844" rel="nofollow">this comment</a> if they wish to actually understand the issue.Hedlundnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-29481155182153781892015-03-29T07:53:49.927-07:002015-03-29T07:53:49.927-07:00In Ricardo, LVT is an approximation for the correc...In Ricardo, LVT is an approximation for the correct theory, where rate of profits are equalized as in the Straffian model (Sraffa model is probably the correct interpretation of Ricardo).<br /><br />For Marx instead the LVT approximation takes a religious status, and this is why Marxism is a step backward from Ricardo/Sraffa w.r.t price theory.<br />Anonymousnoreply@blogger.com