Subject: Re: The mistakes of individual Marxists Date: Tue, 31 Jan 95 09:47:38 +0000 From: wpc-AT-cs.strath.ac.uk >> >> This simply doesn't obtain in Marxism. The Labor Theory of Value is > not something like Newtonian physics that's been superceded by >> Sraffian economics. >I'm not a Sraffian, but are you saying that nothing could count against >Marx's value theory and in favor of Sraffa's or someone else's? What, is >it a matter of religious faith? Marx at least thought it was a scientific >advance. This is something that is eminently testable by observation. As far as I am aware most of the published papers dealing with empirical observations of prices and values tend to show that either labour values give a better predictor of prices than the Sraffian theory, or that there is no empirically significant distinction between their predictions. This tends to support Louis's claim that the Sraffian critique is a matter of formalisms with no substance in the real world. ------------------
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