Date: Fri, 25 Oct 1996 11:28:03 +0930
From: Ian.Hunt-AT-flinders.edu.au (Ian Hunt)
Subject: Re: M-TH: value theory


"If its assumptions are narrow and unrealistic, one has to wonder what it
tells us about the realw orld."
Well, little about the relation between prices and values, perhaps, but
quite a lot about relationships in the model which can reasonably be
assumed not to be affected by the narrow and restrictive assumptions.
Amongst these realistic aspects of the model, I would include the
demonstration that capitalists exploit wage-workers, and that the
appropriate measure of such exploitation at an aggregate level is the rate
of surplus value.




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