From: gerald_a_levy (gerald_a_levy@msn.com)
Date: Tue Oct 15 2002 - 23:17:53 EDT
Re Chris's [7811]: How would _you_ explain the equalization of the rate of profit sans the concepts of individual and social value? In solidarity, Jerry PS: wasn't it redundant for Marx to refer to "the equalization of the general rate of profit"? I.e. if there is _a_ *general* rate of profit then doesn't that mean of necessity that rates of profit have been equalized? ----------------------------------------------------------------- Chris wrote: > Sorry for the delay in responding. > It seems to me that talk of individual value simply collapses value into > concrete labour time. Value represents abstract labour time measured > according to that time socially necessary i.e. value is identical in all > commodities of a particular sort. The notion of individual value makes no > sense to me, and Marx admitted as much in V1 when he calls the social value > the 'real value'. For me value is market value (cet par). The basis for > calculation is the comparison of the individual *labour times*. > Equalisation of profit rate is a different problem about comparison of > different branches. Paolo wrote: > >Chris, you say that individual value is a senseless term. But it seems > >that for > >Marx the notion of individual value is the basis for the calculation of > >the market > >values upon which the whole process of equalization of profit rates is > >conceived. > >How could we conceive of market values without the notion of individual > >values?
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