Re: [OPE-L] price of production/supply price/value

From: Andrew Brown (A.Brown@LUBS.LEEDS.AC.UK)
Date: Thu Jan 26 2006 - 04:14:52 EST

Value is immanently measured by labour-time and externally measuerd by price. By Marx's assumption (and no more), the two measures are directly proportional prior to introduction of profit rate equalisation and diverging capital composition.  
The terminological difficulties in Marx arise from the complex necessary relation between value and price, a relation of which all other economic theory is blissfuly ignorant. 

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