Re: [OPE] Mastering Marxian Economics

From: Dave Zachariah (
Date: Fri Aug 01 2008 - 04:24:10 EDT

Philip Dunn wrote:
> Money has two values. The reason for this is that produced commodities
> and producer commodities are incommensurable in exchange. They have no
> common measure. Absolute money measures the value of produced
> commodities. Real money measures the value of producer commodities.
> There are two disjoint spheres of equal exchange. In a money economy the
> medium of money ensures that effectively everything exchanges with
> everything else. Produced commodities exchange equally with produced
> commodities. Producer commodities exchange equally with producer
> commodities. But exchange between produced and producer commodities is
> neither equal nor unequal because they have no common money measure.
> This incommensurability is what makes surplus value possible.

So profits arise, not from unequal, but incommensurable exchange. The 
problem with this theory is that it obscures the specific mechanism by 
which surplus labour is extracted under capitalism.

//Dave Z

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