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Response to Moseley

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  • Robin Eric Hahnel

Abstract

In “A Marxian reply to Hahnel: The relative explanatory power of Marx’s theory and Sraffa’s theory,†Moseley begins by arguing that I misrepresent Marx. For any like myself, who believe that because we now have linear algebra, and the theorems of Frobenius and Perron to take advantage of, we are able to elaborate a better formal framework for understanding prices and income distribution in capitalism than was available during Marx’s time, the past fifty years has become a game of whack-a-mole: whenever anyone rebuts one particular defense of using a labor theory of value framework, a different variation rises in its place. JEL Classification: B24, B51

Suggested Citation

  • Robin Eric Hahnel, 2021. "Response to Moseley," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(3), pages 525-534, September.
    • Handle: RePEc:sae:reorpe:v:53:y:2021:i:3:p:525-534
    DOI: 10.1177/04866134211003340
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    References listed on IDEAS

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    1. Duncan K. Foley, 2000. "Recent Developments in the Labor Theory of Value," Review of Radical Political Economics, Union for Radical Political Economics, vol. 32(1), pages 1-39, March.
    2. Shaikh, Anwar, 1980. "Marxian Competition versus Perfect Competition: Further Comments on the So-Called Choice of Technique," Cambridge Journal of Economics, Oxford University Press, vol. 4(1), pages 75-83, March.
    3. Simon Mohun, 2004. "The Labour Theory of Value as Foundation for Empirical Investigations," Metroeconomica, Wiley Blackwell, vol. 55(1), pages 65-95, February.
    4. Mohun, Simon, 1994. "A Re(in)statement of the Labour Theory of Value," Cambridge Journal of Economics, Oxford University Press, vol. 18(4), pages 391-412, August.
    5. Roemer, John E, 1979. "Continuing Controversy on the Falling Rate of Profit: Fixed Capital and Other Issues," Cambridge Journal of Economics, Oxford University Press, vol. 3(4), pages 379-398, December.
    6. Duncan K. Foley, 1982. "The Value of Money the Value of Labor Power and the Marxian Transformation Problem," Review of Radical Political Economics, Union for Radical Political Economics, vol. 14(2), pages 37-47, June.
    7. Shaikh, Anwar, 1978. "Political Economy and Capitalism: Notes on Dobb's Theory of Crisis," Cambridge Journal of Economics, Oxford University Press, vol. 2(2), pages 233-251, June.
    8. Fred Moseley, 2021. "A Marxian Reply to Hahnel: The Relative Explanatory Power of Marx’s Theory and Sraffa’s Theory," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(3), pages 511-524, September.
    9. Robin Hahnel, 2020. "Economic Justice: Confronting Dilemmas," Journal of Economic Issues, Taylor & Francis Journals, vol. 54(1), pages 19-37, January.
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    More about this item

    Keywords

    Sraffa; Marxist economics; theory of value;
    All these keywords.

    JEL classification:

    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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