Forwarded from Anthony (value theory)

Louis Proyect lnp3 at
Wed Mar 7 07:34:37 MST 2001

Hi Lou:

A few comments about Value Theory

I agree with Julio's attitude toward modern (bourgeois) economics. And in
general towards all modern (bourgesoi) social science. Despite the moral,
ideological, and direct financial pressure of bourgeois society against the
reveleation fo certain nasty truth's - academic social scientists spend a
lot of time trying to understand society - and sometimes use unimpeachable
methods when they do so.

A lot of the time they are trying to answer questions that are not the most
interesting ones for Marxists directly engaged in the class struggle.

One example that I find interesting is the effort to develop models to
predict price movements in financial markets. Most of these models look a
lot like Marx's theories of rent - extrapolated to the price of land in
capitalized future rents.

These economists are mostly interested in landing jobs at porkerage houses
and investment banks where they can rake in the bucks. But to do so, they
really want to get it right - to find the truth.

Without going too dep into how social consciousness and science intersect -
I think we should reiterate that when scientific study and self-interest
coincide, the truth will be well served - and when they are in conflict, it
won't be well served. Bourgeois science gets weakest when it approaches the
heart of the class conflict, and the big movements of history. It gets
stronger when it deals with elements of practical self interest to the
bourgeoisie or parts of the bourgeoisie.


Louis Proyect
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