RE: [OPE] Understanding Value and Use-Value

Date: Thu Apr 30 2009 - 08:18:14 EDT

> c + v + s is the value of March's production. Since there was no
> production in March because of the strike, it is zero. v + s is zero for
> the same reason. c is zero because there can be no value transfer to
> non-existent produced commodities. All perfectly consistent.
Hi Phil:
It's not consistent. c isn't zero because a portion of the capital value
is invested in means of production *regardless of whether there is value
transferred*. More specifically, it's not consistent because
(1) a portion of c represents fixed costs for the firm;
(2) the value of C _potentially_ may be transferred all or in part to
the commodity product.
(3) The flip side of this potential is that value might not be transferred
from c.
This c represents both an expenditure and an expense for firms. You can't
wish away this reality - a reality that firms are painfully aware of.
In solidarity, Jerry

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Received on Thu Apr 30 08:21:18 2009

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