[OPE-L:4948] Re: ideal vs real value

Gerald Levy (glevy@pratt.edu)
Wed, 7 May 1997 06:55:18 -0700 (PDT)

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Chai-on wrote in [OPE-L:4946]:

> No. the loss of value is not taken place in exchange nor in production. It
> was done on the shelves of warehouses.

I think this depends on how we understand exchange, i.e. does the
*process* of exchange imply more than the *act* of exchange? As I
mentioned in a reply to Paul C [4932], when we take those products _out_ of
the warehouse and place them _in_ the marketplace with an exchange-value,
have they now entered the *process* of exchange *before* the *act* of

> Where does the idea of CV come out from anyway?

I would like to know an answer to that question as well (in fact, I asked
just that question in a restroom in Washington, D.C. to Alan and Fred).

I believe at this point it might help us all if others on the list stated
precisely what they believe the "conservation of value" principle states.
Then, we can see to what extent different definitions are employed.

In solidarity, Jerry