>Date: Wed, 07 Feb 2001 13:28:12 -0600
>From: "Michael McIntyre" <mmcintyr at wppost.depaul.edu>
>Subject: Re: value theory
Any discussion of G. Carchedi on this list in the past, in this context?
-Brad Mayer
>Sounds dubious to me. I'll admit that I gave up on value theory a long
>time ago, but what does equilibrium analysis have to do with it, in any
>case? The problem is deriving price from value (not value from price as in
>Vol. III). Until you can do that, you can't derive profit from surplus
>value, you can't really produce a value-based theory of the firm,
>arguments about the declining rate of profit go on hiatus or are reduced
>to vulgar empiricism, and so forth. Where does a theory of partial or
>general equilibrium enter into this?
>I hear a vague squishing sound. Perhaps I've stepped in it this time....
>Michael McIntyre