[PEN-L:34175] Re: Re: the oil thing/overproduction

[Carrol Cox <cbcox@xxxxxxxxx>]

soula avramidis wrote:
>
>
>
>  in other words aren't we
> too general by simply stating that the law of value holds? or should
> we be saying that it holds because when prices rose the high cost
> tarsands of northern canada came into production.
>

It depends on whether you see the law of value as primarily a theorem in
economics or primarily a theory about how under given historical
conditions human activity is regulated and organized. Perhaps it's both,
but it is _certainly_ the second, and the second is what is important
about it.

Carrol