[OPE-L:6409] Re: The significance of labor power commodification

From: Paul Cockshott (paul@cockshott.com)
Date: Tue Jan 22 2002 - 04:52:41 EST

On Mon, 21 Jan 2002, you wrote:
> Rakesh [6372] writes in part:
> >You are hung up on a point the significance of which you have not been
> able to 
> >establish. 
> Really?  I would have thought our disagreement was over the details of my
> argument, not its significance.  Let me check this by asking you a
> question, Rakesh:
> Is the commodification of labor power *essential* or *incidental* to the
> process of transforming money into capital, according to Marx's account in
> Volume I of Capital?

Whatever input counts as the substance of value will generate the
same paradox. If one constructs input output tables computing oil values
you get the paradox that the price of one barrel of oil is less than one
barrel, just as the price of one hour of labour is less than one hour.

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

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