[lbo-talk] Delong puts the smackdown on ol' Whiskers

Brad DeLong delong at econ.Berkeley.EDU
Tue Apr 5 18:26:30 PDT 2005



>Michael Perelman wrote:
>
>>Brad seems to attribute the growth of productivity to the saving of
>>independent
>>farmers outside of the market in his example. In other words, he
>>explains the way
>>capitalists exploit by the way self-sufficient farmers save. Marx
>>had fun mocking
>>this abstinence theory -- look in Capital under Nassau Senior.
>>
>>If you believe that modern corporations actually operate like Brad's farmers,
>>depriving themselves rather than their workers, then his
>>explanation holds water.
>
>It's weird - Brad picks a pretty wacko example, admits its kind of
>wacko, but then claims it's important and conclusive anyway. Why
>does Marx make smart people do silly things?
>
>Doug

Because I want to save an undergrad who's ODing on capital from drowning in the swamp that is the labor theory of value...

Would you wish anybody to disappear into *that* swamp?

Brad DeLong



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