From: Allin Cottrell (cottrell@wfu.edu)
Date: Wed Oct 16 2002 - 21:22:13 EDT
On Sat, 12 Oct 2002, Christopher Arthur wrote: > 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... But doesn't this skirt the issue of how "socially necessary" is defined when technology is changing? E.g. is the socially necessary labour time some sort of average, or is it the minimum according to best practice (even if only one or a few producers are using the best practice at a given point in time)? Allin Cottrell.
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