[OPE-L:6369] Re: Historical, real and current costs

C. J. Arthur (cjarthur@pavilion.co.uk)
Sat, 28 Mar 1998 21:37:17 +0000

Reply to Ale R
>> Consider two commodities one of which has this extra time (drying
>> time or whatever). Setting circulation time at zero and constant
>> capital at zero they will exchange in proportion to production
>> times. How should we understand this?
>1) Could we make the additional assumption that, in this economy, the
>*form of value* is being performed by some kind of "paper money"?
>In this case, social labor-time would be represented objectively and
>*intertemporally* by means of a non-commodity.

Yes. It makes things easier

>2) Could we make any assumption regarding variable capital? You
>explicitly assume that c = 0 (and then fixed capital = 0), but tell
>us nothing about v.

We do not need to because that doesn't determine value