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

From: Pen-L Fred Moseley (fmoseley@MTHOLYOKE.EDU)
Date: Sun Apr 22 2007 - 10:18:12 EDT

Quoting ajit sinha <sinha_a99@YAHOO.COM>:

> --- 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

Ajit, what about capital goods used only for the production
of non-basic goods?

The further removed a capital good is from the production of
a given final good, the less effect a change in the value of
the capital good will have on the price of production of the
final good.  The most significant causes, by far, of a change in the
price of production of a final good is a change in its
own value, or a change in the value of capital goods which enter
directly into the production of the final good.


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