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

From: Diego Guerrero (diego.guerrero@CPS.UCM.ES)
Date: Fri Feb 23 2007 - 10:14:21 EST

Ajit wrote: "I'm sorry, I don't understand your table. You don't
> specify unit of measurement anywhere and without it,
> it is not making any sense to me. So please specify
> the units of measurements"

What I call "direct values" (wH), "production values" (pH) and "market
values" (mH) are quantities of labour and are measured in hours per unit of
commodity. And "direct prices" (w), "production prices" (p) and "market
prices" (m) are quantities of money, measured in euro or dollars per unit of
commodity. As this labour is abstract labour, I am not saying that there are
three different quantities of concrete labour in each unit of the same
commodity. Of course, in real production the average quantity of concrete
labour is just one for each commodity. There is just one average duration,
average intensity, etc., of the labour spent in each real process. But in
the same manner that we need to distinguish between three different
magnitudes of price for every commodity (w, p, and m) we should distinguish
between three different magnitudes of real labour-hours as equivalent of one
single magnitude of social abstract labour-hours as represented by money.

I agree that it is better to go step by step, so please tell me whether I
have been able to make myself been understood regarding this point.

Cheers,

Diego

----- Original Message -----
From: "ajit sinha" <sinha_a99@YAHOO.COM>
To: <OPE-L@SUS.CSUCHICO.EDU>
Sent: Friday, February 23, 2007 3:27 PM
Subject: Re: [OPE-L] questions on the interpretation of labour values

> --- Diego Guerrero <diego.guerrero@CPS.UCM.ES> wrote:
>
>> Hi Ajit,
>>
>>
>>
>> Remember the table I used in a previous message:
>>
>>
>>
>>
>>      A values
>>      B prices
>>
>>       I
>>
>>       Values and prices with profits proportional to
>> variable capital
>>
>>
>>       wH
>>
>>
>>       w
>>
>>       II
>>
>>       Values and prices with profits proportional to
>> total capital
>>
>>
>>       pH
>>
>>
>>       p
>>
>>       III
>>
>>       Values and prices including different rates of
>> profit in each sector
>>
>>
>>       mH
>>
>>
>>       m
> ______________________________
>
> I'm sorry, I don't understand your table. You don't
> specify unit of measurement anywhere and without it,
> it is not making any sense to me. So please specify
> the units of measurements. Furthermore, I don't
> understand what do categories such as "Values and
> prices with profits proportional to variable capital"
> mean? Are you saying that value measures are dependent
> on profits? In any case, what do you mean by "prices
> with profits proportional to variable capital"? Is
> there any constant capital element in your table I? If
> no, then why would value ratios and price ratios
> diverge? And if there are constant capital element in
> it, then what is the meaning of taking "profits
> proportional to variable capital only"? I think we
> should try to go step by step, then may be we could