Date: 24 Oct 96 13:38:25 EDT From: jc mullen <100663.643-AT-CompuServe.COM> Subject: M-TH: value theory Why do you think value theory turned out to be a dead end. I'm not an expert economics, but it seesm to me that the advantage of the labour theory of value is that it allows economic theory to be linked to a vision of whatthe world really looks like : that is there are clearly more and more products available to make human life more comfortable and interesting. Capitalism is the system that allowed this to happen. What is new about capitalism in this respect ? Surely it is that labour is more efficiently applied... it seems to me that the idea that labour creates value is intuitively satisfying in a way that alternative theories are not, whatever the mathematical difficulties it presents. John Mullen SI France --- from list marxism-thaxis-AT-lists.village.virginia.edu ---
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