Re: query: Historical Materialism

[bantam@xxxxxxxxxxxxxxxx]

> Out of interest, what's wrong with the labour theory of value?  Do the
> AMs
> have an alternative theory of value, or do you try to get along
> without one?
> Feel free to not answer if it would take more labour than is worth
> bothering
> with.

G'day Daniel,

I do remember reading a particularly eloquent paper a few years back
('In Defence of Exploitation' I think it was called) that argued, if
memory serves, that (1) as it could be logically shown that capitalism
necessarily entailed otherwise unnecessary exploitation, (2) this
constitutes sufficiently profound a critique of capitalism to (3) make
of the ever problematic (or so says the argument) law of value a 'fifth
wheel'. I found myself in hearty agreement (although I have not
personally found a convincing case against the law of value yet).

I'll leave the meat of that to others for the moment.

Cheers,
Rob.