[OPE-L:3141] RE: Value added, IVA and TSS

S.Mohun (S.Mohun@qmw.ac.uk)
Thu, 26 Sep 1996 06:31:19 -0700 (PDT)

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Andrew wrote recently:

> We can (I hope) focus on a one-commodity capitalist economy, and
>simply compare the implications of two equations that each claim to formalize
>value determination in Marx's theory, given the above conditions:
>v(t) = v(t)a(t) + l(t),
>which ALL interpretations except TSS (and certain "abstract labor"
>interpretations) adhere to in the one-commodity case,
>v(t) = v(t-1)a(t) + l(t),
>the TSS interpretation.
>(v(t) is the unit *output* value = price of period t; v(t-1) the unit *input*
>value = price of period t.)

I have two queries of (orthodox/heterodox) TSS advocates.
In a multi-commodity world
1. Is the value equation still written as above (but in matrix algebra)? I
seem to remember that I have seen it as
v(t) = p(t-1)A(t) + l(t)
2. Could someone put timescripts on the input-output equation x = Ax + y?

Sorry to be silent for so long.

Simon Mohun,
Dept of Economics,
Queen Mary and Westfield College,
Mile End Road,
London E1 4NS,
Telephone: 0171-975-5089
Fax: 0181-983-3580