... As for the LTV, it is a notion theoretically obliterated by Böhm Bawerk: https://mises.org/library/karl-marx-and-close-his-system … As already by Marx through formulation of the Transformation Problem.
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Replying to @Outsideness @ObCap and
The most immediate problem I see with BB's critique is that Marx himself - in his letters to Engels concerning Dühring, in his Contribution to the Critique of Political Economy, and in other places - reflected on the inability to determine price through the measure of value...
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Replying to @EBBerger @Outsideness and
which isn't a reflection of a theoretical deficit, but of a contradiction that you yourself tacitly affirm when you discussed the Jehu thesis (LTV tracking diminishing elements, that is the human-value complex in the production process).
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Replying to @EBBerger @Outsideness and
Jehu recognizes this as the self-negation of capital, which isn't to say that it is a wind-down of development, but actually the opposite: it's the unshackling of fetters, because its striking out the necessity of realizing surplus value as systemic motor.
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Replying to @1bnKalbatin @Outsideness and
I've yet to read Moseley's book (it's on the list!) so will refrain from commenting, wrt to Jehu I grant there's a discomforting 'smoothness' to his solution (I think we've talked about that before?) -- but I do think that BB doesn't properly deal with Marx's own admission on..
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Replying to @EBBerger @1bnKalbatin and
the state of the problem, even prior to the drafting of Volume 1.
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Replying to @EBBerger @1bnKalbatin and
Which is to say: if the problem is recognized and all that subsequent work is carried out regardless, it's probably safe to say that Marx didn't view it as torpedoing his work, which means that it needs to be thought of in a different light.
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Replying to @EBBerger @1bnKalbatin and
The full theoretical elaboration of the LTV had to look like a compelling project, even if serious problems were anticipated. Ricardo already seemed to have explained so much sociology with it -- and how radical could an alternative have to be?
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... There's a difference between "It almost looks as if this could be like driving into a wall" and "Woah, I just drove into a wall."
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