From: Ian Wright (ian_paul_wright@HOTMAIL.COM)
Date: Tue Sep 30 2003 - 16:40:32 EDT
Without wishing to sound too dismissive, Kevin is making the classic mistake of conflating use-value and exchange-value. Use-value (which is of course a psychological relation between a mind and an object of desire) is a condition for the possibility of the emergence of exchange-value (an objective relation between different concrete labours) in an economy. I think the problem arises from this: >The labor theory not only of Smith, but of Ricardo and Marx, lacked any >mechanism or philosophical basis. Which is not the case, as the law of value is precisely the *mechanism* by which subjective evaluations of the value of goods become constrained by objective conditions not under subjective control, namely the total available social labour-time. I would sincerely recommend that Kevin reads my paper, "Simulating the Law of Value", which explicates in great casual detail how this mechanism operates in the case of a simple commodity economy, and how subjective utility evaluations coexist with objective determination of the value of commodities by labour-time. _________________________________________________________________ The new MSN 8: smart spam protection and 2 months FREE* http://join.msn.com/?page=features/junkmail
This archive was generated by hypermail 2.1.5 : Thu Oct 02 2003 - 00:00:01 EDT