On Wed, 13 Feb 2002, you wrote:
> Although I don't know Sen's article, I think you are right regarding the
> "echoes" you are hearing. My present understanding of Marx's theory of
> value may be compatible with the text you cite.
>
> I think this theory is, essentially, the *draft* of a system of social
> accounting aimed at recording real, historical magnitudes: the expenditure
> of social labor-time and its money-value ("fetishistic") representation.
> Social labor-time plays in Marx the role of the "real" magnitude, analogous
> to the "deflated" figures we have in in the standard social accounting
> system.
I would strongly concur.
--
Paul Cockshott, University of Glasgow, Glasgow, Scotland
0141 330 3125 mobile:07946 476966
paul@cockshott.com
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