From: Ian Wright (wrighti@ACM.ORG)
Date: Tue Feb 06 2007 - 18:48:27 EST
Hello all, I wonder if anyone on the list can help me. I'm puzzling over the causal interpretation of the definition of labour values in linear production theory. A standard interpretation is that labour values represent the total direct and indirect labour-time required to produce unit commodities. This is a replacement cost interpretation. The process of vertical integration reduces all the physical costs of producing unit commodities to labour alone. On the face of it, this interpretation seems reasonable. Yet there is no time period during which unit commodities are produced from labour alone. Commodities are always produced by means of labour and other commodities. So I do not think this interpretation can be causal. Are there other interpretations of the meaning of labour values that make more sense in the context of linear production theory? Thanks for any help, -Ian.
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