Re: [OPE-L] questions on the interpretation of labour values

From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Fri Feb 23 2007 - 11:09:25 EST

--- Diego Guerrero <diego.guerrero@CPS.UCM.ES> wrote:

> Ajit wrote: "I'm sorry, I don't understand your
> table. You don't
> > specify unit of measurement anywhere and without
> it,
> > it is not making any sense to me. So please
> specify
> > the units of measurements"
> What I call "direct values" (wH), "production
> values" (pH) and "market
> values" (mH) are quantities of labour and are
> measured in hours per unit of
> commodity. And "direct prices" (w), "production
> prices" (p) and "market
> prices" (m) are quantities of money, measured in
> euro or dollars per unit of
> commodity.
That's good! This is the only way to proceed. Now
three questions:(1) Do (wH), (pH), (mH)stand for say
100, 200, and 300 hours of labor? And if so, then do
w, p, and m stand for $100, $200, and $300? (2) What
is the difference between direct values, production
values and market values and similarly with prices?
(3)Where does euro or dollar comes from? Remember! you
are in your theoretical world, where you have
apparently taken a set of production equations for the
production of your commodities and wages for labor
etc. If you have specified a relationship of this
system with euro or dollar then make it explicit.
Otherwise, you have no option than to take something
like gold or silver, which is produced as a commodity
in your system of production, as a measure of your
money variable. Your turn now! Cheers, ajit sinha

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