Re: measurement of abstract labor

From: Rakesh Bhandari (rakeshb@STANFORD.EDU)
Date: Wed Jun 23 2004 - 12:43:24 EDT

At 9:30 AM -0700 6/23/04, Ian Wright wrote:
>Hi Rakesh
>>But for you this does not mean that value is undetermined before
>>exchange. But Ian already asked: how do we the average level of
>>technique before we know the level of effective demand.
>I didn't ask a question about this.

Ian I was agreeing with you when you wrote:

>Values can change with the volume of production (e.g., different kinds
>of return to scale), and hence social demand can change values via a
>change in the technical conditions of production. For example, a
>really high demand can bring out-of-date technology to life, and hence
>increase the value of a commodity (as discussed by Rubin in Ch.17
>"Value and Social Need", if I remember correctly). Nothing
controversial here I think ... ?

I think this conflicts with your earlier claim that value is
determined by technical conditions alone, no?

>  Why do we need to know the average
>level of technique before we know the level of effective demand?

Values are determined as socially necessary average labour time
needed to reproduce a commodity, no? To know that average we need to
know level of social demand as you argue above, no?

>  There
>are lots of real production possibilities (i.e., possible values for
>use-values). Some of them become actual when the level of demand
>changes, some never do. Do you see a problem with this Rakesh?

Not at all.

Yours, R

>I do
>not ... but could be wrong.

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