On Wed, 21 Feb 2001, Rakesh Narpat Bhandari wrote: > >> Wj = Kvj + svj > >> > >> Wj: value > >> Kv: "cost price in value terms" > >> sv: surplus value > > > >Yes, that's my view. > > But Allin that's not correct since it implies > > (1) Kvj + svj => Wj What's the symbol "=>" supposed to mean? If it means direction of determination than the equation above implies no such thing. The _determination_ of value is: value of means of production (other than labour-power) plus new labour-time. Surplus value is the residual: new labour-time minus value of labour-power (or at any rate, minus labour-time embodied in wage-goods). One can write this as Wj = Kvj + svj for ease of comparison with the price of production formula, cost-price plus profit, without entering into any untenable commitments on "adding up". Allin.
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