[OPE-L:4217] Re: Re: Logic and illogic in defending Marx

From: Rakesh Narpat Bhandari (rakeshb@Stanford.EDU)
Date: Sat Oct 21 2000 - 23:55:05 EDT

Re Andrew's 4124

>There is no flaw, no "transformation problem," even in the static case,
>once one heeds Marx's warning not to "go wrong" by equating the value of
>capital with the value of the means of production and labor-power.

As I said to Fred, I just don't understand how you are all making 
sense of the first two paragraphs of Capital 3, p. 309.

I read Marx here as saying that the value transferred from the means 
of production is determined by their actual labor value, not the 
value of the money which was needed to purchase them.

All the best, Rakesh

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