[OPE-L:4108] Re: New Quiz and New New Quiz!

aramos@aramos.b (aramos@aramos.bo)
Thu, 30 Jan 1997 09:04:14 -0800 (PST)

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> But if we analyse the substance of value, labor-time, it is
> difficult for me to understand. If in 1996 it was necessary
> 100 hours to produce 1 Kilo of coffee, and in 1997 this is
> reduced to 90 hours, I cannot see how the labor spent in
> 1996 (which is the REAL and IRREVERSIBLE SOCIAL cost of
> coffee in that year) can be retroactively modified,
> reduced.

> Michael:
> For Marx, value does not equal the cost of production,
> but the cost of reproduction. The reproduction costs
> have fallen, therefore so too does the value of the
> 1996 vintage coffee.

Alejandro again

Dear Michael:

I am aware that, for Marx, socially necessary labor time is
that necessary to reproduce the commodity.

My point is this:

Let us suppose that I am a merchant capitalist and, in 1996,
I bought 1 kilo of coffee. This year the MEL was $1/1 hour,
so that this kilo costed me 100 hours * $1/1 hour = $100 (a
little bit expensive!!).

In 1997, the labor time necessary to produce 1 kilo has been
reduced to 90 hours. Let us suppose that the MEL remains
the same. When I sell my stocked kilo of coffee in 1997, I
only pocket 90 hours * $1/1 hour = $90. What would then be
my profit rate as merchant capitalist? Do I gain or lose?

Alejandro Ramos M.

P.S. Michael and Jerry, note that I am performing the
"capitalist", which is not pleasant... I am not FEELING
good playing Mr Wolf.

BTW Jerry: You are really sounding like Shakespeare. What
about this:

Monsieur Le Capital = Macbeth
Madame La Terre = Lady Macbeth