[OPE-L:3608] Re: Re: constant capital and variable capital

From: Fred B. Moseley (fmoseley@mtholyoke.edu)
Date: Mon Aug 07 2000 - 10:28:29 EDT

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On Sat, 5 Aug 2000, Paul Zarembka wrote:

> >5. ... But the point here, to begin with, is that Marx's theory
> >in Volume 1 is NOT about the determination OF labor-values, unrelated to
> >money magnitudes. Rather, the theory is about the determination of money
> >magnitudes, and especially dM, BY labor-values.
> Huh?
> I must be missing something. Paul Z.

Paul, why is this so hard to understand? Marx's theory in Volume 1
attempts to explain the monetary phenomenon of dM. The explanation
is in terms of labor-times. dM is proportional to surplus-labor-time.
Volume 1 is not about surplus-labor-time by itself, unrelated to dM.

You may disagree with this interpretation, but don't you agree that this
is at least a possible interpretation? And, I would add, an
interpretation for which there is substantial textual support,
which I would be happy to continue to examine.


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