I'm not quite understanding what is at stake in debunking the marginalist revolution in economics, a project undertaken if not completed by Ronald Meek, Maurice Dobb, et al., years ago (cf. also the debate on marginal productivity set off by Joan Robinson and Piero Sraffa). Marx himself predicted that the labor theory of value would lose its explanatory adequacy with the advent of "large industry," which would make of living labor a "mere watchman and regulator" of goods production. Of course Francis Walker looks the fool from our distant point of view. So what? Who doesn't at our safe remove?
I'm not quite understanding what is at stake in debunking the marginalist revolution in economics, a project undertaken if not completed by Ronald Meek, Maurice Dobb, et al., years ago (cf. also the debate on marginal productivity set off by Joan Robinson and Piero Sraffa). Marx himself predicted that the labor theory of value would lose its explanatory adequacy with the advent of "large industry," which would make of living labor a "mere watchman and regulator" of goods production. Of course Francis Walker looks the fool from our distant point of view. So what? Who doesn't at our safe remove?