Forwarded from Jurriaan (value theory)

Louis Proyect lnp3 at SPAMpanix.com
Tue Feb 27 10:20:28 MST 2001


Louis,

I don't agree that the value theorists are "scholastic" and I think the
issues they deal with are crucial to the very foundation of Marx's critique
 of capitalism. I have no time to write it up just now, but will try to do
so soon. In the meantime, notice that Kliman does write on capitalist
crisis (in his notes & letters mag), Alan Freeman has published extensively
 on all sorts of political topics from crises and imperialism to Tony Benn,
 Moseley writes on the US economy (see his website at Mt Holyoke College)
and so on. The TSS interpretation is important, since it shows the whole
intellectual framework within which Marx's macroeconomics was interpreted
by most serious economists in the 20th century doesn't fit with Marx's
intention. Marx's theory was adapted to the concepts of neo-classical
equilibrium economics whereas Marx in reality rejected most of the key
concepts involved. Specifically, the substantive issue in the
"transformation problem" is in reality a non-issue, it doesn't exist.

Regards

Jurriaan

Louis Proyect
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