re 5024:
>On Wed, 21 Feb 2001, Rakesh Narpat Bhandari wrote:
>
>> Then if the "Wj=kvj + svj" equation does not represent the left side
>> being determined by the right side, what does it represent?
>
>It represents the left side being equal to the right side, last time I
>checked. The equation in itself says nothing about determination. You
>might as well accuse Marx of having an adding up theory because he
>writes value = c + v + s. It's the exact same thing ("kvj" = c+v).
>
>Allin.
Value is *resolved* into cost price (c + v) and surplus value (s).
Modifying Ricardo, Marx argues that value is the primary, basic
magnitude that breaks down (or resolves) into cost price and surplus
value. But value is *determined* as Lmp + Lc. Keeping this in mind
allows one to remember the different meanings implicit in the equals
sign. In specific contexts, it represents a relation of
determination; at other times, a relation of resolution.
Yours, Rakesh
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