re 4700 > > >OK, then, it was my mistake in interpreting you so literally. Gil, I think the mistake was in not fleshing out what was meant by aggregate. Moreover, I had defined M' minus M as surplus value. And in your merchant capital example, the sum of values in circulation has not changed, so there was no *surplus* value. > In order to >avoid a similar mistake in the future, let me now ask: is it true that by >your understanding of Marx's Ch. 4 definition, surplus value cannot exist >if new value is not created between the initiation of the circuit of >capital and its culmination? > >Gil I have said that Marx's argument is that new value cannot be created in the circulation of commodities. Yours, Rakesh
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