[OPE-L:2477] Re: Re: Re: Re: Re: Re: Re: Re: the employment contract and capitalism

From: riccardo bellofiore (bellofio@cisi.unito.it)
Date: Fri Mar 03 2000 - 03:09:08 EST

[ show plain text ]

At 19:52 +0100 2-03-2000, Prof. Ernesto Screpanti wrote:

>In other words the law of value is the law that determines production prices
>through competition. It serves to Marx to make sure that exploitation (at
>the highest level of abstraction) does not occur in the market through
>unequal exchange.

I thought that the law of value states, among other things, that whatever
prices you consider, they represents nothing but labour in monetary form
(and, I would add, that the new value produced in the period has its origin
only in the living labour of the wage workers). This is independent from
the form of competition. By the way, once you are able to ground the idea
that the new value comes only from living labour, to call a 'law' the fact
that prices simply redistribute that magnitude is a bit excessive (even if
Marx may have said something of the kind). I would call it a secondary and
necessary consequence of the argument that posits "my" law of value.


        Riccardo Bellofiore
Office: Department of Economics
        Piazza Rosate, 2
        I-24129 Bergamo, Italy
Home: Via Massena, 51
        I-10128 Torino, Italy
e-mail bellofio@cisi.unito.it, bellofio@unibg.it
tel: +39 035 277545 (direct)
        +39 035 277501 (dept. secr.)
        +39 011 5819619 (home)
fax: +39 035 249975

This archive was generated by hypermail 2b29 : Fri Apr 21 2000 - 09:47:56 EDT