Read the paper and am not convinced, any more than folks like Steedman, Mongiovi, Nitzan or Robinson [if she were alive] are convinced. If you want to understand how prices are formed at the point of production, go work for MSoft, Boeing, BMW, Toyota, Moody's or Charles Schwab; do the empirical work. Feel free to take all the great monographs with you; you know, Pasinetti, Foley, Steedman, Shaikh, Kurz and Salvadori........Oh, and check the archives for a paper on Marxism and accounting which Doug posted a while back too.............
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CB: So, you and andie know how prices are formed. Using your non-ltv theory , care to predict any prices ?
What will the price of oil be in x months ? (based on Pasinetti, Foley, Steedman, any papers in the archives, et al.)