Re: [OPE-L] questions on the interpretation of labour values

From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Wed Feb 21 2007 - 08:56:56 EST

> In my opinion, values and market prices determine each other mutually.

Hi Diego:

I would put it somewhat differently. (surprise.)  I would say that
value and exchange-value (and the necessary form of appearance of
the value-form, price) are all mutually constitutive of the commodity.

In that formulation,  value does not  "determine" market prices or
vice versa: both are necessary aspects of commodities. The point
that I made to Phil is that (even if there is no representation of value
other than through price) this is not (by itself) a theory of  value

> As a general theory it should be assumed that m = m, different from both w
> and p.

By itself, that's not a general theory: it's an axiom and an identity.

> I show in the paper that if we assume this, it is possible to keep all
> Marx's equalities: total prices = total values, total profits = total
> surplus value, one single rate of profit and so on.

Total values = total prices?
Shouldn't it be, in Marx's theory, total values = total PoP.
This is a necessary qualification because there are objects which
constitute wealth and come to be valued and have a price which
do not constitute value. (See my reply to Paul C).

In solidarity, Jerry

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