- Capitalism and Alternatives -


Posted by: Red Deathy ( Socialist Party, UK ) on May 28, 1999 at 08:04:19:

In Reply to: More LTV discussion posted by Samuel Day Fassbinder on May 27, 1999 at 10:07:23:

: SDF: RD, could you cite a Web Page where you "covered marginal preference theory"?

'fraid not- it was me V. Joel when he first arrived, I've checked and its gone off the bottom of the list :(.

My points against Joel (and he never adequately countered them) were:
1:That it seemed to take no account of competition.
2:That if true meant that capitalism was geared against satisfaction of needs, and necessarilly maintained artificial scarcity.

: SDF: Doesn't this last sentence represent another labor theory of value? Funny, I seem to remember reading something like this on a Ricardo page on the Web, and David Ricardo (as I recall) was the ORIGINATOR of the Labor Theory of Value. What's the difference between Ricardo and Shannon?

I think Smith started down the line, or proposed something towards it, but Ricardo produced a formalised and working Labour Theory of Value.

I don't get what you mean by 'Is this a another LTV'? AFAICS its an application of LTV as epounded by Marx...

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