Date: Mon, 26 Apr 1999 23:08:23 -0400
From: HANS DESPAIN <hsdespain-AT-home.com>
Subject: Re: BHA: RE: Theory of value


Just a few comments in relation to Marshall's reponse to Amit's request
concerning value theory and critical realism.  Firstly, Lawson's book is
very useful introduction to critical realism and economics, but he does
not address value theory.  Rajani Kanth's *Against Economics* also a
useful book for the relation between critical realism and economics, and
is more concerned with classical economics, especially Ricardo, but
again nothing directly about value theory.  Steve Fleetwood's book
should be out, this I have not read.  

With respect to Regulation theory, there does seem to be an influence
between Bhaskar and the French R school, but Boyer for example seems
opposed toward value theory. Lipietz's *The Enchanted World* certainly
is a useful discussion of value theory, but the critical realist
connection is not made, his (Marx informed) distinction between esoteric
and exoteric worlds would benefit from a critical realist
interpretation.  

Further, Moishe Postone's *Time Labor and Social Domination* is an
excellect discussion of value theory, and could possiblely benefit if
more informed by critical realism.  Also Tony Smith's *The Logic of
Marx's Capital* has some note worthy discussions on value theory (the
are many similarities between the Hegelian-Marxist's 'New Dialectics'
and critical realism).

Finally, there are two articles by E.K. Hunt directly concerning value
theory ... "Joan Robinson and the Labour Theory of Value" *Cambridge
Journal of Economics* VII (3 and 4) (Fall); and "The Role of Value
Theory in the History of Thought" in *Explorations in Political Economy*
eds. Kanth and Hunt, 1991.  These would seem to be of most interest to
Amit as a place to begin.  Although I would highly recommend both
articles, Hunt himself is rather hostile toward Bhaskar and critical
realism, methodologically Hunt has been influenced by Colletti's
Kantianism, and the internal realism of Hilary Putnam.  Also Maurice
Dobb's *Political Economy and Capitialism* (1937) has a useful (although
outdated) article on value, along with his Sraffian informed *Theories
of value and distribution since Adam Smith* (1973).  Perhaps the best
place to begin is Ronald Meek's *Studies in the Labor Theory of Value*
(1956). 

Hans


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