------- Forwarded message follows ------- From: Paul Cockshott <paul@cockshott.com> To: Andrew@lubs.leeds.ac.uk Subject: Re: [OPE-L:5571] Re: Re: Ockam's Razor Date sent: Wed, 16 May 2001 12:04:29 +0100 On Mon, 14 May 2001, you wrote: > The last I remember was Fred reproducing an equation for > aggregate value added put forward by Geert and Michael: > > Y=mL > > where > Y: aggregate value added > m: monetary expression of labour > L: abstract labour time > > It seems that, according to value-form theory, Y and mL are on a > par and *mutually determine* one another. Indeed it maybe that the > left hand side of the equation dominates the right hand side [if 'form > determination' is taken in a quantitative as well as qualitative > sense]. That being so, the *magnitude* of value added is not, in > any sense, explained by reference to the magnitude of abstract > labour. Rather, we need further specification of how 'mutual > determination' occurs before we have a quantitative > theory/explanation at all. > Note that this is a pretty trivial matter since it relates to aggregate price and aggregate labour. Marx concerns himself with the much more interesting issue of relative prices and relative labour contents. -- 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 ------- End of forwarded message -------
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