I don't disagree with Joseph & Jim. I thought I was agreeing with Joseph when I write:
"Ironically, Marx's value theory is often wrongly dismissed for having neglected natural resources. For example, in a widely circulated article, Paul Samuelson charged Marx with ignoring "the patent fact that natural resources, too, are productive" (Samuelson 1957, p. 894). However, with his concept of reproduction costs, Marx offered a framework well in advance of contemporary economics. The wanton depletion and degradation of resources should be taken into account in evaluating economic activities, even though the price system pays no attention to such matters." Michael Perelman Economics Department California State University Chico, CA 95929 530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
