Re: AM & PE

[djones@xxxxxxxxxxxxxxxxxxx (rakesh bhandari)]

 For some reason, boddhisatva asked me:

 >Since both producers and consumers are always
>guessing as to the market price of goods, does it make sense to deal with
>economies not as equilibristic or even ultimately circular, systematic and
>self-feeding, but instead as a collection of probability vectors ?

I thought that I had made clear that I am not prepared to answer this
question, as I do not yet have the skills to read  Mirowski's critical work
(*More Heat than Light*) on  the assumptions made about value in models
which pose the economy as "equilibristic or even ultimately circular,
systematic and self-feeding."  It should also be very clear that I cannot
now get through Farjoun and Machover's book on probability and value
theory.  Please refrain in the future from revealing to the whole world how
stupid I am....

Perhaps I will get a sense of the problem from G Carchedi and W de Haan's
"From Production Prices to Reproduction Prices" in Capital and Class 57
(Autumn, 1995), which I just picked up from the library.  It is my sense
that to reduce the problem to probability vectors would be an attempt to
systematize the ordinary conceptions of the businessman, not an attempt to
theorize and explain the nature of the relationship between value and
price.



                       Peace,
                          rakesh





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