On Sun, 13 Mar 1994 21:41:57 -0800 Barkley Rosser said:
> As near
>as I can tell the only alternatives to supply and demand are either
>Marx or (Gil Skillman and Jim Devine, are you reading?)
Of course I'm reading (though I'm dismayed at the large amount of
mail after leaving town for the weekend and I'm a bit bored with AD).
For the record, micro S & D don't contradict Marx (as far as I can
tell). He did use a different lingo: "demand" for him was "quantity
demanded at the long-term equilibrium price" for us. But the main
thing was that he had a non-neoclassical theory of what's behind
micro S & D. S & D determine the constant gyrations about the
underlying "prices of production" (centers of gravity). These
in turn reflect the class nature of capitalist society and the
technical differences amongst industries ("organic compositions
of capital"), in addition to more mundane matters (a theory of
cost-determined prices in the long run).
in pen-l solidarity,
Jim Devine BITNET: jndf@lmuacad INTERNET: [EMAIL PROTECTED]
Econ. Dept., Loyola Marymount Univ., Los Angeles, CA 90045-2699 USA
310/338-2948 (off); 310/202-6546 (hm); FAX: 310/338-1950
