[OPE-L:1204] Re: LVB6:What's in a definition?

Allin Cottrell (cottrell@wfu.edu)
Fri, 23 Feb 1996 09:00:26 -0800

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"Marx ... frequently employs such expressions as 'gold can rise
above its value'. What does this expression *mean* if prices are
determined by the labour content of gold?"


It means that the embodied labour-time commanded in exchange by an ounce
of gold is greater than the labour-time required to produce an ounce of
gold. This would be a temporary, disequilibrium phenomenon, on the strict