From: paul cockshott (clyder@GN.APC.ORG)
Date: Fri Nov 28 2003 - 06:26:46 EST
>In view of this, why should I read Volume III? Paul: >-------------------------------------------------- >Because a large part of volume III is devoted to looking at >the circumstances in which the price value identity assumption >is relaxed. Phil: My reply to Jerry covers this issue. ------------------------ Paul not really. Jerry's example is concerned with random variations around a mean, in vol III Marx deals with systematic movements of means. However I don't quite understand your position in reply to Gerry -------------------- Then the embodied labour values of the three bottles are, respectively, 1.29 hours, 1.69 hours and 0.79 hours. To put it another way, during our walk dollars are being spent on a wide variety of products. Whatever product is bought the buyer receives 1 hour of embodied labour value for every dollar spent. This is what I understand the idea of money as a universal equivalent to mean -- equal exchange. ------------------ This implies that the amount of embodied labour in the bottles, produced under identical conditions differs. You establish exchange as the condition of determination of embodied labour, and in the process reduce the notion of embodied labour to an absurdity since it no longer has anything at all to do with the labour process. One might as well say money measures embodied marshmallows?
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