On Fri, 18 May 2001, you wrote: > > >The labor-time quantities on the RHS of equation (1) are > >the independent variables which exist independently of money, and the > >magnitude of surplus-value on the LHS is the dependent variable, which is > >determined by the independent variables on the RHS. > > Given systemic determination - dissociation of lbour, production and > consumption, and private ownership of the means of production: (1) the > value to labour relationship must be continuously reconstituted as the > system reproduces itself and (2) this necessitates the value-form as the > 'mode of association' constituting labour and value as 'abstract' in > exchange - i.e. there is no sense in which abstract labour is independent > of its expression in money. Experience hyper-inflation and say that again. > ---------------------------------- > Nicola Mostyn (Taylor) > Faculty of Economics > Murdoch University > Australia > Telephone: 61-8-9385 1130 -- Paul Cockshott paul@cockshott.com
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