Time to try to answer some of Barkley Rosser's questions.
1. There were two main aspects of my postings on the LTV, relating
respectively to the formation of prices in capitalist economies and to
the issue of rational costing in a planned economy. In my last posting
(part 12) I argued that t
Time to try to answer some of Barkley Rosser's questions.
1. There were two main aspects of my postings on the LTV, relating
respectively to the formation of prices in capitalist economies and to
the issue of rational costing in a planned economy. In my last posting
(part 12) I argued that t
I shall first attempt to answer Steve Keen's questions.
1. Steve asks whether I would accept that what I have defended
is really a Labor Measure of Value (LMV) rather than a Labor
Theory of Value (LTV). No, I wouldn't. An LMV, as I understand
it, is what you find in Smith's advocacy of labor *c
I shall first attempt to answer Steve Keen's questions.
1. Steve asks whether I would accept that what I have defended
is really a Labor Measure of Value (LMV) rather than a Labor
Theory of Value (LTV). No, I wouldn't. An LMV, as I understand
it, is what you find in Smith's advocacy of labor *c
