[OPE-L:3291] Re: TSS and Value Added

Gerald Lev (glevy@pratt.edu)
Sun, 6 Oct 1996 12:25:19 -0700 (PDT)

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John wrote in [OPE:3290]:

> Given that we are forced to deal with the path of the money rate
> of profit, we have to consider our hypothetical economy as it
> moves through time. <snip>
> When Marx considers
> the manner in which innovation and the production of relative
> surplus value takes place, he gives us the concepts of "social
> value" and "individual value" to show why the capitalists think
> that innovations which are ultimately harmful appear in their
> self-interests. (See Vol. I, Ch 12 ) <snip>
> Within the two views we are discussing, we
> should be explicit about the role of social value as we
> attempt to examine the paths of the money rates of profit
> through time.

Given the assumptions that were accepted by both Andrew and Duncan in the
case of the 1-sector "hypothetical" model under consideration, how is it
possible to view the difference between individual value and social value?

In Solidarity,