On Thu, 7 Jun 2001, Andrew Brown wrote: > > > But the important point upon which we are in full > > > agreement, I hope, is that abstract labour time tethers price > > > magnitude; the immediate opposition opens up this crucial > > > distinction between the two magnitudes, the mediate identity > > > confirms their connection. > > > > This requires that specific quantities of abstract labor exist in some way > > independently of prices, does it not? > > I think that it is crucial to achieve a greater degree of precision than > your sentence above. This is what I have tried to do. Andy, "abstract labor thethers price magnitudes" means that abstract labor determines average prices, according to the equation: Y = m L Abstract labor cannot determine prices in this way unless abstract labor exists independently of price. Andrew, how do you interpret this equation, which I argue is the basis of Marx's theory of value and surplus-value? Thanks again. Comradely, Fred
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