me: >> Currency is not a measure of value. Instead, it's hours of >> socially-necessary abstract labor time which measure value.
Doug: > Which you can't really observe or measure, right? right. Years ago, the behaviorist psychologists rejected concepts such as the "mind," because they couldn't be measured or observed (except in the most subjective way). Cooler heads -- or might I say, minds -- eventually prevailed, so that psychologists accepted the concept of the "mind" as an intervening variable between stimulus and response. Thus,it's reasonable to me to use non-observables in political economy. And as Paul points out, we can get a pretty good approximation of actual real-world values. -- Jim Devine / If you're going to support the lesser of two evils, you should at least know the nature of that evil. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
