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Intersubjective economics, theory of production, and the transformation problem

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  • Thierry Levy

Abstract

The intersubjectivist theory of value (surveyed in Levy [1990, 1994a] and Fullbrook [1994c, Section 4]) is founded on Simone de Beauvoir's conception of reciprocal desire and emphasizes the role of conventions and intersubjectivity in market relations. It treats money and markets as social institutions and argues that a money economy is fundamentally different from a real one. The tool of intersubjective economics is to offer a system for analyzing standard economic phenomena from a vantage point outside the equilibrium paradigm. But paradoxically, while the intersubjectivists developed intersubjective analysis of the firm [Eymard-Duvernay, 1989; Levy, 1994b, 1995c; Biencourt et al., 1994], the original intersubjectivist theory of value to which they refer is conceived in an exchange economy. This paper's aim, then, is to explore and discuss points for reducing the lack of a theory of production in intersubjective and measurement economics. Copyright International Atlantic Economic Society 1997

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  • Thierry Levy, 1997. "Intersubjective economics, theory of production, and the transformation problem," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 3(1), pages 37-45, February.
    • Handle: RePEc:kap:iaecre:v:3:y:1997:i:1:p:37-45:10.1007/bf02294999
    DOI: 10.1007/BF02294999
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    References listed on IDEAS

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    1. François Eymard-Duvernay, 1989. "Conventions de qualité et formes de coordination," Revue Économique, Programme National Persée, vol. 40(2), pages 329-360.
    2. Dumenil, Gerard & Levy, Dominique, 1989. "The Competitive Process in a Fixed Capital Environment: A Classical View," The Manchester School of Economic & Social Studies, University of Manchester, vol. 57(1), pages 34-57, March.
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