Re: [OPE-L] Proposition #4

From: glevy@PRATT.EDU
Date: Thu Mar 08 2007 - 09:51:07 EST

Ajit: Sorry for the double accounting error: there were two points
labelled d). The sequence below has been corrected so as to avoid
misunderstanding. / In solidarity, Jerry

> d)  capitalist production ordinarily involves the performance of labor
> by workers utilizing *means of production*.  Those means of production
> themselves are commodities. The ownership and control of those means of
> production are, as we've already stipulated, key to the class relationship
> that exists under capitalism.
 e) the expenditure of labor requires that the producers (wage-workers)
> expend energy during a period of *labor time*.
 f) the definition of capitalism used (see proposition #2) means that
> capitalists control the labor and labor time of wage-workers.
 g) the definition of commodities indicates that commodities are produced
> in order to be *sold*.   The *sale* of commodities requires not only
> exchange but *money* and *markets*.
 h) assume, as a simplifying assumption, that money also is a commodity.
> For the purposes of the model, assume that the money commodity is
> *gold*.
 i)  The exchange of commodities requires that there are *exchange ratios*
> which are expressed in terms of money (gold).
 j) because all production takes the form of commodity production and
> all goods sold are commodities, this requires that both labor time and
> means of production take the form of commodities.  Define the amount
> of money which is used to purchase means of production as *constant
> capital* and the amount of money used to hire wage-workers  as
> *variable capital*.
 k) if products did not have a utility (a quality of being useful) for
> someone else, then they would not be produced or purchased as commodities.
> This follows from the definition of commodities since they are produced
> in order to be sold rather than individually consumed by the direct
> producers or by the class which  controls the labor of the direct
> producers and owns the means of production (the capitalists).  Hence,
> commodities must have a *use-value*.
 l) since commodities are produced with the intention of being sold, they
> must also have an *exchange-value*.  Although the exchange-value of
> commodities is  *presumed* (by the seller) before sale based on past
> transactions,  it is only *known*  once it has been sold on the market.

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