[OPE-L:5705] Re: Re: Response to Fred - 1

[Rakesh Narpat Bhandari <rakeshb@xxxxxxxxxxxx>]

Judging from the list discussion, I would like to say I agree with
the VF emphasis on the actualization of value in exchange, appreciate
the VF probing of the meaning of abstract labor (including Riccardo's
attempt to understand abstract labor as alienated potency), agree
with the monetary and macro parts of Fred's interpretation, find
attractive the Gouverneur-Shaikh iterative solution to the
transformation problem (though I don't really think the inputs are in
the form of commodity values, as Fred and Alejandro have argued),
agree with Allin's underlining that any interpretation of Marx's
value theory should make sense of the thesis of double divergence,
appreciate Allin and Paul C' empirical work on the strength of the
tendency of the profit rate to equalize, do find the sequential,
dynamic, difference equations approach of TSS (Ernst, Kliman, Freeman
and Carchedi) to be right on the money (so to speak), and have
learned from Ajit's attempt to figure out whether different
problematics are  working at cross purposes in Marx's value theory
(though I think making sense of the possibility and necessity of
crises of general, as opposed to partial, overproduction on the basis
of the nature of money was Marx's main problem throughout, including
in Capital I, part I--not the division of labor as Ajit has it, but
then I am a student of Grossmann and Mattick Sr).

I don't see how the neo Ricardian theory gets off the ground since it
does not have a theory of money; don't agree that marx's theory of
the falling rate of profit can be tested in terms of models which
employ the methodology of comparative statics; the infinite regress
critique seems to me trivial; the thesis that the use value of any
commodity can be productive of value seems to me to based on a
refusal to accept Marx's definition of value as labor time alienated
or objectified in a commodity--not simply any product of labor.

It's 102 degrees here today, and it's easier to type than pack and move boxes.

Yours, Rakesh