[OPE-L:5152] Re: Re: Re: Re: one commodity models and illustrations

From: Duncan K. Foley (foleyd@cepa.newschool.edu)
Date: Sun Mar 11 2001 - 23:21:24 EST

You'd probably want to treat labor-power as a different commodity in 
this setup. But any general theorems that would be true for 
multi-commodity economies would have to hold for this one as well.


>Re Duncan's [OPE-L:5136]:
>>  Well, you could have an economy in which there were lots of
>>  qualitatively different commodities as use values but in which they
>>  all shared the same conditions of production (turnover times, inputs
>>  other commodities and labor). This would look like a one-commodity
>>  economy analytically, but it would be a valid special case of a
>>  multi-commodity economy.
>It might  "look like"  a one-commodity model or
>illustration but as you recognize above it would _be_
>a multi-commodity (perhaps n-sector) model or
>illustration. In any event, one has to ask: what is
>gained and what is lost in an illustration of a
>capitalist economy where all (n) commodities require
>the same technical conditions of production?
>I also note that the "technical conditions of production"
>(and reproduction) of  labour power can not be the
>same as that of other commodities ("... not by bread
>alone").  Indeed, I think that the "turnover
>time" of the commodity labor power (how long it takes
>to produce and reproduce that commodity) can not be
>the same as that of all other commodities. I'm not
>really sure how the "labor input" for the commodity
>labor power can also be the same as all of the other
>Re following:
>Furthermore, what kind of "money commodity" is
>possible in this context?  Can it for example serve as
>hoard? Yet, what happens to the value of corn after an
>extended period of being stored?
>It is important to remember that both labor power and
>the money commodity are *unique* commoditities in
>Marx's system. The reason for the uniqueness is not
>simply the difering use-value of these commodities
>(although that is important as well).
>In solidarity, Jerry
>  You couldn't address problems of the
>>  equalization of the rate of profit in this economy, but you could
>>  address other problems, including monetary ones, since the money
>>  commodity could be one of the commodities.

Duncan K. Foley
Leo Model Professor
Department of Economics
Graduate Faculty
New School University
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e-mail: foleyd@cepa.newschool.edu
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