[OPE-L:5277] Re: Metal money

M Williams (Michael@mwilliam.u-net.com)
Tue, 17 Jun 1997 04:06:01 -0700 (PDT)

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At 02:13 17/06/97 -0700, Paul C. wrote:
> In response to:
>> Michael W
>> 2. There is no actual quantity of labour time that can act as a measure
>> value, since it is Abstract Labour that is the measure of Value, and the
>> only real existence of Abstract Labour as Value is in Money Price (this
>> the 'necessary form of expression' of value, is,the kind of language Marx
>> uses).
>What of the total annual labour expended by society - all individual
>values can be expressed as fractions of this.

Michael W:

Hello Paul.
A couple of queries:
1. The 'total annual labour expended by society' is a vector of many diverse
specific concrete labours, is it not?
2. *If* one is seeking a theory of relative prices, then the question is
*what* fraction of 'total annual labour expended by society' measures a
particular relative/individual value? Is it not?

Comradely greetings,
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