> 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.)
>
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Yawn. Explaining price formation at the point of production and it's connection to class struggles is a different issue from forecasting price movements. All price theories have lousy track records on that [latter] score. For good reason, else a lot of good economics jokes would have to be tossed in the dustbin of history.........