File spoon-archives/marxism-thaxis.archive/marxism-thaxis_1996/96-10-29.043, message 24


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



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