[OPE-L:2250] Re: testing marx

Duncan K Foley (dkf2@columbia.edu)
Thu, 16 May 1996 11:06:28 -0700

[ show plain text ]

On Wed, 15 May 1996, Paul Cockshott wrote:

> >(among other things)
> >
> Paul C
> ------
> Whilst there may be some finer points of emphasis on which Rubin differs
> from other commentators on Marx, I had understood him to put forward
> a fairly straightforward labour theory of value:
> 'The value of commodities is directly proportional to the quantity of
> labour necessary for their production.'
> 'The exchange of two different commodities according to their values
> corresponds to the state of equilibrium among two given branches
> of production'
> (Essays on Marx's Theory of Value, p65)
> I would class this as a fairly orthodox account of Marx's value
> theory.

Rubin, though, also puts great emphasis on the idea that money represents
abstract labor time, which is the side of it that I was referring to.