From: Michael Eldred (artefact@t-online.de)
Date: Wed Apr 09 2003 - 11:44:26 EDT
Cologne 09-Apr-2003 rakeshb@STANFORD.EDU schrieb Tue, 8 Apr 2003 15:51:37 -0700: > Michael E wrote: > "Groundlessness does not mean "empty of 'ontic' content". The form > itself is not in > doubt -- what things are worth assumes a definite form or 'look', > namely, the > price-form of value. The groundlessness pertains to the quantitative > determination > of this form, i.e. quantitative price, which is groundless in the sense > that no > intrinsic causes can be named on which to 'blame' price quantitatively. > The causes > remain those which just 'happen', i.e. _kata symbebaekos_, those which > just 'go > along' with and influence the actual event of sale. Such causes may > exhibit a > regularity which can be ascertained, but such regularity _epi to poly_, > i.e. 'in > many cases', does not amount to a causal ground. Indeed, the regularity > can and > does 'regularly' collapse, often unexpectedly." > ______________________ > > What kinds of regularity in quantitative price collapse? Are you > referring to a collapse in the absolute price level, i.e., a bout of > deflation, or a collapse in the relative stability of exchange ratios? Rakesh, I am thinking, say, of gluts which come out of the blue and lead to a collapse in prices. A recent highly visible example is the collapse in prices for optic fibre networks. But you only have to open your eyes to see it happening all the time on a smaller scale -- market precalculations are constantly going wrong (perhaps even for the better -- winfall profits). Suddenly, all that labour embodied in optic fibre cable is worthless. Why? Because there is no _use_ for it. (Exchange-value is derivative of use-value, and use-value means that things are useful in social practices.) There were around 47,000 bankruptcies registered in Germany last year. Here in Cologne I see more and more shops empty, the premises unlettable. Just two further ontic examples for how products of labour do not gain sufficient value-form validation in price to recoup capital advanced. Michael _-_-_-_-_-_-_- artefact text and translation _-_-_-_-_-_-_-_-_-_ _-_-_-_-_-_-_-_-_-_-_-_- made by art _-_-_-_-_-_-_-_-_-_-_-_-_-_ http://www.webcom.com/artefact/ _-_-_-_-artefact@webcom.com _-_ _-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_ Dr Michael Eldred -_-_- _-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_
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