Date: Sat, 23 May 1998 17:22:05 -0400
From: Doug Henwood <dhenwood-AT-panix.com>
Subject: Re: M-G: Marx and Wall Street


Chris Burford wrote:

>Doug certainly believes that marxism should be empirically grounded and I
>regret his questioning of what is the significance of the law of value

I don't object to the law of value; I think it's the organizing principle
of capitalism. It's the whole scholarship that's grown up around value
theory - the transformation problem, the stuff at the Value Club's web site
<http://www.gre.ac.uk/~fa03/iwgvt/>, etc. etc. - that I object to. As
Antonio Callari rightly put it at the Value Club's last meeting, they use
it as a substitute for politics.

Doug





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