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Robust correlations between prices and labour values: a comment

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  • W. Paul Cockshott
  • Allin Cottrell

Abstract

The paper addresses Kliman's criticisms of the observed correlations between prices and labour values. It argues that the notion of spurious correlation is not relevant in this case. It examines Kliman's own simulations and shows that his statistical correction techniques involve dividing through by the signal to leave the noise. Copyright 2005, Oxford University Press.

Suggested Citation

  • W. Paul Cockshott & Allin Cottrell, 2005. "Robust correlations between prices and labour values: a comment," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(2), pages 309-316, March.
    • Handle: RePEc:oup:cambje:v:29:y:2005:i:2:p:309-316
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    File URL: http://hdl.handle.net/10.1093/cje/bei015
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    Citations

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    Cited by:

    1. Julian Wells, Julian, 2007. "The rate of profit as a random variable," MPRA Paper 98235, University Library of Munich, Germany.
    2. Alan Freeman, 2010. "Crisis and “law of motion” in economics: a critique of positivist Marxism," Research in Political Economy, in: The National Question and the Question of Crisis, pages 211-250, Emerald Group Publishing Limited.
    3. Montalban, Matthieu, 2012. "De la place de la théorie de la valeur et de la monnaie dans la théorie de la régulation : critique et synthèse," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 12.
    4. Lefteris Tsoulfidis & Dimitris Paitaridis, 2017. "Monetary Expressions of Labour Time and Market Prices: Theory and Evidence from China, Japan and Korea," Review of Political Economy, Taylor & Francis Journals, vol. 29(1), pages 111-132, January.
    5. Mouré, Christopher, 2022. "No Shortage of Profit: Technological Change, Chip 'Shortages', and Capital Accumulation in the Semiconductor Business," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 262742, January.
    6. Emilio Díaz & Rubén Osuna, 2009. "From correlation to dispersion: geometry of the price-value deviation," Empirical Economics, Springer, vol. 36(2), pages 427-440, May.

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