Exchange, value and money

From: rakeshb@STANFORD.EDU
Date: Tue Apr 08 2003 - 18:51:37 EDT

Michael E wrote:
"Groundlessness does not mean "empty of 'ontic' content". The form
itself is not in
doubt -- what things are worth assumes a definite form or 'look',
namely, the
price-form of value. The groundlessness pertains to the quantitative
of this form, i.e. quantitative price, which is groundless in the sense
that no
intrinsic causes can be named on which to 'blame' price quantitatively.
The causes
remain those which just 'happen', i.e. _kata symbebaekos_, those which
just 'go
along' with and influence the actual event of sale. Such causes may
exhibit a
regularity which can be ascertained, but such regularity _epi to poly_,
i.e. 'in
many cases', does not amount to a causal ground. Indeed, the regularity
can and
does 'regularly' collapse, often unexpectedly."

What kinds of regularity in quantitative price collapse? Are you
referring to a collapse in the absolute price level, i.e., a bout of
deflation,  or a collapse in the relative stability of exchange ratios?

Yours, Rakesh

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