[OPE-L:1799] Re: Accumulation of capital in Ch. 24, V1

Paul Cockshott (wpc@clyder.gn.apc.org)
Mon, 15 Apr 1996 16:33:07 -0700

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When Jerry said "represented", it meant that a labor time was represented
by a c
ommodity value (or by a commodity's market value). If a commodity value
is to b
e determined by labor time, then the labor time must be represented in
the commo
dity value.

Maybe he wanted to say that but that was not what
he said. Which was: 'the socially necessary labor time
represented in a commodity by its production.'
in this definition he has the commodity's production
performing an act of representation. The representation
is performed not by production but by sale which
represents the labour time elapsed in a commodity's
production as a sum of money.