[OPE-L:3094] Re: Re: Re: Re: Re: Re: empirical verification of interpretations of Marx? (fwd)

From: Rakesh Bhandari (bhandari@Princeton.EDU)
Date: Wed May 10 2000 - 10:27:25 EDT

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But Steve I would agree that the price of money or securities are not
governed by value even in mediate form as they are not freely reproducible
by social labor--neither are rare art works or land. I don't deny that a
capitalist can pay too much or too little for a piece of machinery. I deny
that machinery can be the source of new value; if it's gotten cheap this
represents a transfer of value from machine marker to machine user, not the
creation of new value. At any rate in terms of money and securities, the
laws of supply and demand have freer reign here exactly because they are
not freely reproducible by social labor. These are border commodities
which do not have bulk properties.
Yours, Rakesh

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