re 5019: > >> If I'm not mistaken, you read that passage as saying that Marx defines >> respectively the value and production price of commodity j in the following >> way: >> >> Wj = Kvj + svj >> Pj = Kpj + prj >> >> Wj: value >> Pj: production price >> Kv: "cost price in value terms" >> Kp: "cost price in price term" >> sv: surplus value >> pr: profit > >Yes, that's my view. But Allin that's not correct since it implies (1) Kvj + svj => Wj With this formula for value determination there is no way to fend off an adding up theory of price (you have heard me say before): that is, your formula won't allow for the possibility that in a multisector economy the value of wage goods could rise and Kv thereby increase--say greater outlays of labor are needed for agricultural produce with the increasing cultivation of inferior lands--without a commensurate increase in the value of the output. The formula has to be (2) Lmp + Lc => Wj Yours, Rakesh
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