Re: [OPE] peanut butter value-form theory

From: Gerald Levy <>
Date: Sat Mar 28 2009 - 14:03:42 EDT

> This problem is overcome is we just accept that value is a ‘subjective
> phenomenon’
> linked to the satisfaction provided to consumers.


Alternatively, the problem is overcome if we say that both value and
use-value are
necessarily linked to the commodity. It is not that value is a 'subjective
it's that the commodity has both objective and subjective aspects along with
quntitative and qualitative dimensions which are likewise linked to each

It is unfortunate that so many Marxists have simply one-sidedly rejected
value theory" in favor of "objective value theory". Value theory, more
understood, has both subjective and objective sides. From a history of
perspective, the mainstream Marxian perspective seems to be a reaction to
the marginalist attack - I guess Hilferding and Bukharin shoulder some of
responsibility for this mis-guided response to the mis-guided critique by
Bohm-Bawerk, Mises, and other reactionary economists.

In solidarity, Jerry

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Received on Sat Mar 28 14:09:45 2009

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