From: Philip Dunn (pscumnud@DIRCON.CO.UK)
Date: Mon Apr 11 2005 - 23:56:59 EDT
Hi Ian Sorry, I afraid I was a bit sloppy mathematically. The unit labour-content of all corm produced is defined as [dN/dX] evaluated at the margin of cultivation. X' is the magnitude of the variable X at the margin. The total value of all the corn produced, X', is then X' [dN/dX]. For Ricardo, the labour theory of value only applies at the margin. On infra-marginal land more embodied labour value is added than labour time is expended. If the landlord is selling labour-power in the material disguise of access to infra-marginal land, then the LTV applies to infra-marginal land as well. Phil Quoting Ian Wright <iwright@GMAIL.COM>: > > So the unit labour-content of corn is determined at the margin of > cultivation. > > and is equal to dN/dX, the marginal rate at which labour is required to > produce > > extra corn. > > It was the expression > > X' dN/dX > > that I didn't understand (which defined labour-content of X' at the > margin). dN/dX is a gradient, and represents the instantaneous change > in N wrt X. But X' is a substantive amount of corn. How can it make > economic sense to multiply X' by a gradient? > > If we want the labour-content of X' then don't we need to take the > line integral of the production function from X=a to X=a+X', where a > is the current number of labour-hours devoted to corn production and > X' is the extra corn required? > > -Ian. > Philip Dunn
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