LTV as a theory of price

Paul Cockshott wpc at
Sun Oct 30 21:29:21 MST 1994

The labour theory of value as a given by Marx and the classical
economists has roughly the same status as the second law of
thermodynamics prior to Boltzman or Mendelian genetics before
Crick and Watson. They are laws that are found empirically to hold,
but we do not yet know why they hold. Some of the most fertile
suggestions are those of Farjoun and Machover.

The results that I am citing are in the open literature or
are about to be published. Those interested should consult
Shaik in 'Ricardo Marx Sraffa', Verso 1984,
Petrovic in Cambridge Journal of Economics, vol 11 no 3
Ochoa in Cambridge Journal of Economics, vol 13, no 3
Valle in Review of Radical Political Economy, vol 26 no 2.

Paul Cockshott , 		
Phone: 041 637 2927		wpc at
				wpc at


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