Value from Nowhere: a response to Dumenil and Levy (first submission)
This article was submitted in 1999 to the Review of Radical Political Economy but was rejected. It responds to Gérard Duménil and Dominique Lévy’s (1999) “The conservation of value: a rejoinder to Alan Freeman”. This was a critique of the Temporal Single-System (TSS) interpretation of Marx’s value theory presented in my (1996) Marx and non-Equilibrium Economics. In this response, I show that the paradoxes which Duménil and Lévy found in the TSS approach arose from a dogmatic adherence to the simultaneist paradigm which imposes, a priori and without reference to real phenomena, a distinct ontology from which change is absent. I show that when the supposition of a static economy is dropped, simultaneism creates value out of nowhere, and cannot thus support the elementary economic distinction between production and circulation. A uniform treatment of fixed capital, and the formation of social values, eliminates the alleged paradoxes. I show their own approach to be incoherent, generating negative values from its own assumptions. This is the first of two responses to this article which were rejected by the RRPE board. I have placed the second response in the public domain at the same time as this response.
|Date of creation:||20 Apr 1999|
|Date of revision:||20 Apr 1999|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Freeman, Alan, 1996. "Price, value and profit – a continuous, general, treatment," MPRA Paper 1290, University Library of Munich, Germany.
- Alan Freeman & Guglielmo Carchedi (ed.), 1996. "Marx and Non-equilibrium Economics," Books, Edward Elgar Publishing, number 737, July.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:48684. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.