Date: Wed, 03 Dec 1997 23:03:06 +0000 From: Chris Burford <cburford-AT-gn.apc.org> Subject: Re: M-TH: Steedmanism Obviously I welcome Ian Hunt's comments not only because they are somewhat sceptical of Steedman's position and supportive of the Marxian theory of value, but because it reinforces what could be common ground between me and Justin and perhaps helps to address the contradiction constructively. I refer to the use of models. This seems to me a framework in which serious left-wingers should be able to cooperate without being either dogmatic or anti-marxist. Can I assume that Ian's reference to price *movements* indicates he sees merit in models that specifically try to model non-equilibrium situations? As for Steedman, perhaps there is no body of thinking that could be called Steedmanism. Perhaps his work is indeed a serious left-wing contribution rather than an attack on marxist value theory for its own sake. It seems to me that it would be useful if someone has access to some sort of material, could sum it up, at its best of course. There is no point in ridiculing it. I wonder even if Ian is somewhat critical of it could he or someone else characterise the model? Chris Burford London. >I have read Steedman's maths too, and unlike Justin, I do not think that >Steedman has shown that value theory is inconsistent or redundant. It is >true that value, although it can be employed in models of price structures >in economies with a uniform rate of profit on costs, is not necessary in >such models, and thus is redundant in such models. But this does not mean >the concept of value is redundant in models which explain how price >movements in a capitalist economy, or redundant in models of capitalist >exploitation. > >Dr Ian Hunt, >Director, Centre for Applied Philosophy, >Philosophy Dept, >Flinders University of SA, >Humanities Building, >Bedford Park, SA, 5042, >Ph: (08) 8201 2054 Fax: (08) 8201 2556 > > > > > --- from list marxism-thaxis-AT-lists.village.virginia.edu --- > > --- from list marxism-thaxis-AT-lists.village.virginia.edu ---
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