Re: [OPE] peanut butter value-form theory

From: Alejandro Agafonow <>
Date: Sat Mar 28 2009 - 08:03:04 EDT

Jerry: **Yet Engels is probably the intellectual originator of what Paula called "the standard Marxist account".**   But is there any other interpretation which departs from the ‘labor embodied interpretation’?   I mean, as far as I understand, all Marxists interpret ‘value’ as a consequence of the ‘labor embodied’ in a commodity. The main difference among them is not this issue, but the mechanisms to reallocate ‘labor time’ (socially necessary labor) in a large economy.   So you can distinguish between those who support a labor time accounting (Cottrell, Dieterich, Cockshott, etc.) with a huge planning apparatus, and those who understand that this reallocation is made by market mechanisms under capitalism but do not propose a clear institutional departure from it, even though being against capitalism (the majority of Marxists close to Das Kapital corpus).   Regards, A. Agafonow ________________________________ De: GERALD LEVY <> Para: Outline on Political Economy mailing list <> Enviado: sábado, 28 de marzo, 2009 12:06:50 Asunto: RE: [OPE] peanut butter value-form theory > Paula: **If they [crackers] don't sell, for whatever reason, then > the value cannot be realized.** > Yes. Engels went even further and stated that in this case the labour > value of commodities devaluates. This happens when overproduction appears > or when commodities fail in the provision of utility to consumers. Alejandro: Yet Engels is probably the intellectual originator of what Paula called "the standard Marxist account".  You can see clearly with Kautsky and the other major theoreticians of Austro-German social democracy that they had a "labor embodied" interpretation. The same could be said for most of the Bolshevik interpretations of political economy and it was carried over in the Stalin (see e.g. _Economic Problems of the USSR_) and post-Stalin era. The standard marxist account can also be seen in most of the mathematical formalizations of political economy from von Bortkiewicz to and beyond Sweezy. Dualist interpretations, where there are separate value and price accounting schemes, are an expression of that intellectual tradition. In solidarity, Jerry_______________________________________________ ope mailing list

ope mailing list
Received on Sat Mar 28 08:05:04 2009

This archive was generated by hypermail 2.1.8 : Tue Mar 31 2009 - 00:00:03 EDT