RE: [Pen-l] An Ecological Future: Marx and Wu Wei

["Perelman, Michael" <MPerelman@xxxxxxxxxxxx>]

I don't disagree with Joseph & Jim.  I thought I was agreeing with
Joseph when I write:

"Ironically, Marx's value theory is often wrongly dismissed for having
neglected natural resources.  For example, in a widely circulated
article, Paul Samuelson charged Marx with ignoring "the patent fact that
natural resources, too, are productive" (Samuelson 1957, p. 894).
However, with his concept of reproduction costs, Marx offered a
framework well in advance of contemporary economics.  The wanton
depletion and degradation of resources should be taken into account in
evaluating economic activities, even though the price system pays no
attention to such matters."

Michael Perelman
Economics Department
California State University
Chico, CA
95929

530 898 5321
fax 530 898 5901

http://michaelperelman.wordpress.com


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