On Mon, 02 Apr 2001, you wrote: > Second, you have implicitly agreed that Marx is writing loosely here > > You have already recognized that the formula for value determination cannot be > > (1) K + S > > since say a rise in the price of wage goods due to say rising ground > rent payments would raise cost price but not the value of commodities. > "The value of corn is regulated by the quantity of labour bestowed on its production on that quality of land, or with that portion of capital, which pays no rent. Corn is not high because a rent is paid, but a rent is paid because corn is high; and it has been justly observed, that no reduction would take place in the price of corn, although landlords should forego the whole of their rent. Such a measure would only enable some farmers to live like gentlemen, but would not diminish the quantity of labour necessary to raise raw produce on the least productive land in cultivation. " Ricardo, Principles of Political Economy, chap 2. -- Paul Cockshott, University of Glasgow, Glasgow, Scotland 0141 330 3125 mobile:07946 476966 paul@cockshott.com http://www.dcs.gla.ac.uk/people/personal/wpc/ http://www.dcs.gla.ac.uk/~wpc/reports/index.html
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