Carrol Cox:
I'm not going to develop the arguments on this, but the perspective advanced here denies that there is a transformation problem because Marx's value theory, unlike Ricardo's value theory, is NOT INTENDED TO EXPLAIN PRICES!
JG:
Yeah. Exchange value and surplus value are "concrete abstractions." Market prices and capitalist profits are empirical phenomena. Even if you're an orthodox value theory zealot, you recognize that the former and the latter don't directly map onto one another, because of the way in which firm and sectoral differentials in the organic composition of capital reallocate surplus value. In any event, after toying around with this stuff semi-seriously for several years as a lad, I decided that one is far better off using value theory as a heuristic device for analyzing the accumulation process, the class struggle, etcetera, and nothing more. In other words, I went agnostic. IMO, you're better off spending your time stamp collecting, spelunking, crocheting. But perhaps this one of those "don't do
as I did, do as I say" tales that will fall on deaf ears.
I hear there's a guy by the named "Abu Hartal" (sp?) 'round these parts who might be interesting in taking up this conversation though. I for one would recommend conversing with him OFF LIST, though.
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