[OPE-L:3318] Re: Fwd: Re: RE: Re: objectivity of value

From: Rakesh Bhandari (bhandari@phoenix.Princeton.EDU)
Date: Wed May 24 2000 - 15:41:11 EDT

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> >From: Paul Cockshott <wpc@dcs.gla.ac.uk> >Subject: Re: [OPE-L:3300]
> RE: Re: objectivity of value > >At 12:20 24/05/00 +0100, you wrote: >
> > > >> 3299] Re: objectivity of value >> > >> >Paul C writes: >> > >>
> > This is a point where we part company, I would go along with Ajit >>
> > in saying >> > that the objective measure of value is labour time.
> This exists prior to >> > sale as a >> > property of the input/output
> matrix.

Paul (C),
I don't understand how this is possible. The input output matrix already
presupposes a value measurement: how else would you know which branches to
include (cars instead of buggies) and how can you determine the average
condition of production in each branch unless you know on the basis of
demand levels the last marginal producer to include in the determination
of that average?
It does not seem to me that the input output sysem can preexist the value
measurement. It only becomes real when commodity output is measured as
values in terms of a system of prices.
Yours, Rakesh

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