Tuesday, January 17, 2012

Some empirical research on the Labor Theory of Value.

Here are some interesting pdfs on the empirical strength of the LTV.  People who believe that Austrian, marginalist economics can be absolutely proven a priori need to ask themselves: If price tends to gravitate toward the cost of labor in actual markets in a way that is empirically provable, is there something wrong in your a priori analysis?

No comments:

Post a Comment