Re: money doesn't measure

From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Wed Jul 28 2004 - 02:30:55 EDT

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--- Ian Wright <iwright@GMAIL.COM> wrote:
> In an economy with commodity money then perhaps the
> situation is
> different and the value scale is set by labour-time
> in the gold
> sector. But I have not thought about this much.
______________
But Ian, as i have explained so many times, the
labor-time in the gold sector has no special meaning
since labor-time in gold sector requires the knowledge
of labor-time in other sectors. If gold is a commodity
it is produced by other commodities! Cheers, ajit




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