Re: Re: the labor theory of value

[Jim Devine]

At 04:16 PM 09/25/2000 -0700, you wrote:
>Sounds a lot like Hayek's vision of the business cycle. But Hayek managed 
>to do fine without the LToV. So what's its role in this Hayekian mechanism?

The Austrian edifice, including Hayek, is based on Marx and his immediate 
followers (though they tried to make their theory as idealist as possible 
and did add some new stuff).

Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~JDevine