Re: [OPE-L] essentials and scope

From: ajit sinha (
Date: Tue Sep 19 2006 - 05:23:12 EDT

--- Jurriaan Bendien <adsl675281@TISCALI.NL> wrote:

> Marx defined the capitalist mode of production (CMP)
> sometimes (1) as
> "generalised commodity production" (veralgemeinte
> Warenproduktion), i.e. the
> subordination of the entire production process of an
> economic community to
> the laws of commercial trade, and sometimes (2) as a
> "unity of the
> production
> process and the circulation process".
> Such an economic system could not exist at all,
> without the general use of
> money and the valuation of assets in monetary terms
> - the growth of
> integrated capital, credit and money markets within
> and between
> nation-states were a powerful stimulus for the
> development of the system.
> I think though Marx saw the essence of the CMP in
> what he calls "the capital
> relation" - summarised with the formula that
> "capital commands/buys labor".
> This assumes that both the inputs (the "factors of
> production") and outputs
> of production have become tradeable commodities with
> money prices, within a
> market system.
Adam Smith, Ricardo and Sraffa (and the neoclassicals
will have no problems with it either) all believed
that wages are paid in money terms. So what is your
point? Cheers, ajit sinha

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