[OPE-L:4954] Re: ideal vs real value

Chai-on Lee (conlee@chonnam.chonnam.ac.kr)
Thu, 8 May 1997 05:32:17 -0700 (PDT)

[ show plain text ]

At 06:55 97-05-07 -0700, Jerry wrote:

>
>I think this depends on how we understand exchange, i.e. does the
>*process* of exchange imply more than the *act* of exchange? As I
>mentioned in a reply to Paul C [4932], when we take those products _out_ of
>the warehouse and place them _in_ the marketplace with an exchange-value,
>have they now entered the *process* of exchange *before* the *act* of
>exchange?

Chai-on:

In vol 3 of Capital, Marx says even the process of circulation consists of
"belated production process" or "eventual production process" as against
the "immediate production process".
Even if the commodity is placed in the market place with a price tag, it is
in the process of production. (Chapter 17). Transport, storage is a part of
production in the sphere of circulation. Only when the commodity is handed
over to its purchaser, it is in the real exchange process. In that
exchange, of course, the aggregate value will be conserved to the effect
that one man's gain is another man's loss. Yet, still, the aggregate value
might have been decreased from the aggregate value produced.

In solidarity,

Chai-on