From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Sun Feb 25 2007 - 14:13:28 EST
--- Diego Guerrero <diego.guerrero@CPS.UCM.ES> wrote: > Ajit: > > > > 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? > > _______________________________________ > > Diego: > > Yes. _________________________ My heart is now sinking like a rock in water about getting anywhere. But I'll still try. I'm guessing that by "market prices" you mean prices that you OBSERVE in a given market. So if we find that a blue jeans is sold for $100 then you say it's "market value" is equal to 100 hours of labor. Leaving aside what "market value" could mean, could you tell us on what basis you could say something like that? Furthermore, since "prices of production" I guess, in your scheme, cannot be observed, what meaning can be given to the statement that 'if prices of production of a blue jeans is $200, then its "production value" would be 200 hours of labor? And same for direct value and direct prices--whatever they may mean. > > _______________________________________ > > > > (2) What is the difference between direct values, > production > values and market values and similarly with prices? > _______________________________________ > > > > Everybody knows the difference between direct > prices, production prices and > market price. _______________________ Well, then, of course, I'm not part of "everybody". Please don't give me quotation from Marx or anybody, just tell me what these concepts mean to you in your theory. _______________________ > (3)Where does euro or dollar come 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 > _______________________________________ > > > Well, I am afraid that the answer to this will not > be easily accepted. But, > first, remember that I am not using the MELT > exactly: for every commodity I > translate from labour to money by using "the > average, social productivity of > labour in terms of money", which "coincides as a > practical result with the > 'monetary expression of value' (Duménil and Foley, > 2006) or the inverse of > what Fine, Lapavitsas and Saad-Filho (2004) calls > the 'labor expression of > money'." ______________________ Again, instead of giving a straight answer to a straight question, you are quoting other people. I don't care about what other people say, I want to know how in your theory a particular entity figures in. You should know it best and should be able to explain it best. Why quote anyone else? You say, "for every commodity I translate from labour to money by using "the average, social productivity of labour in terms of money", please explain how do you do this. In any case, let me guess what you are trying to say. You say that you take the dollar value of the net output produced in a year and make it equivalent to the total direct labor spent in a year. The ratio of total direct labor and total dollar value of the net output you DEFINE as "labor value of money". Now remember, your dollar value is based on the "market prices". So your labor value of money can only give you your "market value". This is nothing but calling a person John and Jack at the same time. But it does not carry any more information about the person than that John has a nick name and people close to him like to call him Jack. Where do you go from here? Cheers, ajit sinha ____________________________________________________________________________________ Have a burning question? Go to www.Answers.yahoo.com and get answers from real people who know.
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