RE: [OPE] Understanding Value and Use-Value

From: Philip Dunn <>
Date: Thu Apr 30 2009 - 23:27:44 EDT

On Thu, 2009-04-30 at 13:18 +0100, GERALD LEVY wrote:

> 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.
There is no argument that fixed costs are real as outgoings. A strike is
no doubt painful to the firm.

Would you then accept Senior's last hour argument in so far as it
applies to fixed costs?

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Received on Thu Apr 30 23:32:32 2009

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