Re: [OPE-L] The Use-Value & SNLT Question

From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Wed Apr 11 2007 - 07:15:38 EDT

--- Allin Cottrell <cottrell@WFU.EDU> wrote:

> On Tue, 10 Apr 2007, Jerry Levy wrote:
> > > > "... all wasteful consumption of raw material
> or instruments of
> > > > labour is strictly forbidden, because what is
> wasted in this way
> > > > represents a superfluous expenditure of
> quantities of
> > > > objectified labour, labour that does not count
> in the product or
> > > > enter into its value".
> >
> > > It seems to me that Marx is talking here of
> wastage that is over
> > > and above the "socially necessary" rate.
> >
> > It seems to me that you didn't take note of how
> the excerpt above
> > begins with  *all*.
> I took notice of it, but discounted it as obvious
> hyperbole on
> Marx's part.  Show me a capitalist who wastes
> nothing.
At this time I don't have time to go and look for the
relevant quotation, but if my memory serves me right,
Marx does take into account the usual wastage as part
of socially necessary cost. Waste in Jerry's quote
above must refer to over and above socially necessary
waste as socially necessary waste is already defined
as part of necessary cost. Furthermore, I think Jerry
is going too far when he suggests that 'over
production' amounts to waste of labor. First of all,
it is not clear what one means by over production if
all the goods are sold at some positive price but more
importantly inventories are assets and priced at the
going price, aren't they? Cheers, ahit sinha

Don't pick lemons.
See all the new 2007 cars at Yahoo! Autos.

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