[OPE-L] The value of labour-power

From: Philip Dunn (hyl0morph@YAHOO.CO.UK)
Date: Fri Jun 09 2006 - 01:12:12 EDT

This has been touched on in the current discussions.

Is the value of labour-power to be understood as embodied labour?
Clearly, the commodities consumed by workers possess embodied labour. Is
the value of labour-power to be understood as non-intrinsic, as the
value of something else, namely that of the commodities consumed? If
labour-power possesses intrinsic, embodied labour value does this value
transfer to the commodity produced? Or is it destroyed at the moment of

Enough questions, some assertions.

Embodied labour value is intrinsic value but intrinsic value need not be
embodied labour. The intrinsic value of the produced commodity is its
embodied labour. The intrinsic value of the producer commodity is its
labour-power. This is the identity theory of labour and value.  Wherever
there is labour there is also value. Embodied labour is one moment of
labour, labour-power is another. Embodied labour value is different from
labour-power value since embodied labour is different from labour-power.
Both are different from money labour value. Money is purchasing power.
Its intrinsic value is its power of command over labour.

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