[OPE-L:5317] Re: Re: Re: Re: double divergence

From: Paul Cockshott (paul@cockshott.com)
Date: Mon Apr 02 2001 - 06:07:03 EDT

On Mon, 02 Apr 2001, you wrote:
> Second, you have implicitly agreed that Marx is writing loosely here
> You have already recognized that the formula for value determination cannot be
> (1) K + S
> since say a rise in the price of wage goods due to say rising ground 
> rent payments would raise cost price but not the value of commodities.

"The value of corn is regulated by the quantity of labour bestowed on its
production on that quality of land, or with that portion of capital, which pays
no rent. Corn is not high because a rent is paid, but a rent is paid because
corn is high; and it has been justly observed, that no reduction would take
place in the price of corn, although landlords should forego the whole of their
rent. Such a measure would only enable some farmers to live like gentlemen, but
would not diminish the  quantity of labour necessary to raise raw produce on
the least productive land in cultivation. " Ricardo, Principles of Political
Economy, chap 2.

Paul Cockshott, University of Glasgow, Glasgow, Scotland
0141 330 3125  mobile:07946 476966

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