Bourgeois Reliance on the Labor Theory of Value

cwellen cwellen at
Sun May 12 12:40:35 MDT 1996

Greetings to all comrades from Wei En Lin.

I would like to reply to these questions about the following quotation:

>The contemporary proof of the validity of the concepts of LABOR
>VALUE and SURPLUS VALUE lies in the fact that modern BOURGEOIS
>economists themselves use these categories.  They employ them
>in a disguised fashion, however.
>Examine the case, for instance, of John Maynard Keynes'
>Employment Theory, the Capitalist Theory par excellence.

"What does this mean: par excellence?
What's about Hayek, Friedman et al. ?
What's about the differences of societies
which had been directly influenced
by these economists, say the British
society in the 1940s and the Chilean
society in the late 1970s?

Hinrich Kuhls"

To Comrade Kuhls I will say that I was merely using Keynes theory as one
example.  My main point, derived from Afanasyev's "Bourgeois Economic
Theory," was the following.  No contemporary theory of economics can
ground itself without assuming either directly (or in a disguised way)
the existence of labor value and surplus value.  Keynes is still the
darling of most intelligent modern bourgeois economists; for this reason
I used the phrase "par excellence."  Friedman's thought is monetarist,
and does not seek to formulate a comprehensive theory.  I cannot speak
about Hayek, whom I have never read.

Afanasyev's chief virtue is that he discusses in detail most of the
significant theorists of bourgeois economics from the 1903's through the
70's.  He shows, using mathematical calculations and staightforward,
clear, verbal expository prose, that Labor value  and Surplus value
categories cannot be rejected.  In fact such categories are employed by
all respectable theorists, including Rostow and Toeffler (to give more
contemporary examples).

Concerning British and Chilean societies, I would say Afanasyev's (and
therefore Marx's) theories apply equally there.  Though we would have to
examine the particulars.

Sincere regards,

Wei En Lin

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