[OPE-L:1823] Re: Definitions of value

Paul Cockshott (wpc@cs.strath.ac.uk)
Fri, 19 Apr 1996 01:16:03 -0700

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The labor theory of value must explain how and why the value
represent itself as another, which is the
>core of the transformation problem. IMO, money is also a
commodity and the sole difference between money and any other
ordinary commodity is in its functions as the general
equivalence. I would like to continue the discussion on the nature of money.

At certain times some commodities have functioned as money,
but money is not a commodity. The monetary function is one
of recording social power - the power to command the labour
of others. What is required for this is a method of recording
information, and a method of constraining transitions between
information states. Commodities are just one way of doing it.
Paul Cockshott