From: Pen-L Fred Moseley (fmoseley@MTHOLYOKE.EDU)
Date: Sat Apr 07 2007 - 10:52:39 EDT
Hi Jurrian, To give you a little more background of my interpretation of Marx’s concept of value: I argue that in Chapter 1 of Volume 1, Marx developed his concept of value in three aspects or dimensions: the SUBSTANCE of value (which is abstract labor), the MAGNITUDE of value (which is socially necessary labor-time), and the FORM OF APPEARANCE of value (which is money or prices). These three dimensions are clear from the title of Section 1 and the entire logical structure of Chapter 1 (first deriving the substance and magnitude of value in Sections 1 and 2) and then deriving money and prices as the necessary form of appearance of value in Section 3). So in the rest of Capital, when Marx says the “value” of commodities, without qualification, he could be talking about any one of these three dimensions. After Chapter 1, when Marx says “value” without qualification, he usually means the form of appearance of value or prices. To take a key example, in Chapter 7 of Volume 1, the “value” of 20 lbs. of yarn is 30 shillings. It would be cumbersome to repeat every time: “the form of appearance of the value of 20 lbs. of yarn is 30 shillings”. So he abbreviated it down to: “the value of 20 lbs. of yarn is 30 shillings”. But it is clear from the context that he is talking about the form of appearance of value. Similarly, in Chapter 1 of Volume 3, which you asked about, when Marx says that the “value of the commodities is $600”, he means the form of appearance of value. And he compares this form of appearance of value with the cost price of the commodities ($500). In these passages, he could not mean the substance or the magnitude of value, which are in units of labor-time, and thus cannot be compared with the cost price, which is in units of money. Comradely, Fred ---------------------------------------------------------------- This message was sent using IMP, the Internet Messaging Program.
This archive was generated by hypermail 2.1.5 : Mon Apr 30 2007 - 00:00:16 EDT