What variables are constant?

Chris Burford cburford at gn.apc.org
Fri Sep 22 00:03:04 MDT 1995


From: glevy at acnet.pratt.edu
Date: Thu, 21 Sep 1995 01:37:08 -0400 (EDT)
Subject: Re: Chaos is not a "theory"

Steve K wrote:

 The best we can hope for is to uncover the
> salient factors, and leave the rest to "exogenous factors".
>
And how do you go about determining which variables should be exogenous?
I'll grant you that your preference for Vietnamese pork rolls doesn't
have a significant impact on the trade cycle, but what variables of
import are held constant? I believe that this is a rather significant
question for all economic modelling, no?



Chris B:
--------

The total sum of use values may increase with the increase in
productivity.

The total amount of currency in circulation may
fluctuate, usually upwards.

BUT

*******************************************************
the most important variable that remains constant is
the total sum of exchange value created by all the
commodity producing labour in the world.
******************************************************

I would be grateful if everyone will throw everything they
can at this formula, as I  want to clarify whether it
is robust, or it needs amending. It appears to me to be an
inescapable corollary of Marx's economic theory.


Chris B. London.





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