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

From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Wed Apr 18 2007 - 12:11:55 EDT

--- Pen-L Fred Moseley <fmoseley@MTHOLYOKE.EDU> wrote:

> I donít understand this argument, which you repeat
> several times.
> Which capital goods are you thinking about that are
> inputs to many
> industries in general?  Oil?  It seems to me that
> most capital goods
> are quite industry specific, and are used in only
> one industry, or a
> small group of industries.  If so, then changes in
> the values of
> capital goods do not have a general effect on the
> values of many final
> goods, as you suggest.
Fred, I agree with most of what you say about Marx's
prices of production and the classical natural prices.
However, your above statement is flat out wrong. If
there is technical change in any capital goods sector,
the values of all the goods must change. That
particular capital good does not have to physically
inter the production of every commodity. But it does
inter them indirectly since a capital good by
definition is a basic good. Cheers, ajit sinha

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