Re: [OPE-L] Ricardo on the value of manufactured goods, or does the tail wag the dog?

From: Gerald_A_Levy@MSN.COM
Date: Sat Apr 09 2005 - 18:43:10 EDT

> Ricardo is not concerned here about technological differences.

Hi Phil,

Here's the quote you cited previously:

> The exchangeable value of *ALL* commodities, whether they be manufactured,
> or the produce of the mines, or the produce of land, is ***ALWAYS***
>  regulated,  not by the less quantity of labour that will suffice for
> their  production under  circumstances highly favorable, and exclusively
> enjoyed by those  who have peculiar facilities of production; but by the
> greater quantity of  labour necessarily bestowed on their production by
> those who have no such facilities; by those who continue to produce them
> under the most  unfavorable circumstances;  meaning-by the most
> unfavorable circumstances, the most unfavorable under which the
> quantity of produce required, renders it necessary to carry on the
> production. (emphasis added, JL)

As you can see -- especially since I have highlighted it! -- Ricardo made
a claim here about what ***ALWAYS*** regulates the exchange-value of
***ALL***  commodities.   Even though he didn't explicitly refer to
technological differences among capitals in the above quotation,  when he
makes a claim about what "always" regulates exchange value for  "all"
commodities that necessarily *must* include cases where there are
technological differences among capitalists producing the same commodities.

In solidarity, Jerry

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