[OPE-L:4703] Re: Re: Re: Re: Re: SV and the F of D

From: Rakesh Narpat Bhandari (rakeshb@Stanford.EDU)
Date: Thu Dec 14 2000 - 18:52:03 EST

re 4700
>OK, then, it was my mistake in interpreting you so literally.

Gil, I think the mistake was in not fleshing out what was meant by 
aggregate. Moreover, I had defined M' minus M as surplus value. And 
in your merchant capital example, the sum of values in circulation 
has not changed, so there was no *surplus* value.

>  In order to
>avoid a similar mistake in the future, let me now ask:  is it true that by
>your understanding of Marx's Ch. 4 definition, surplus value cannot exist
>if new value is not created between the initiation of the circuit of
>capital and its culmination?

I have said that Marx's argument is that new value cannot be created 
in the circulation of commodities.

Yours, Rakesh

This archive was generated by hypermail 2b29 : Sun Dec 31 2000 - 00:00:04 EST