Re: [OPE-L] basics vs. non-basics

From: Philip Dunn (pscumnud@DIRCON.CO.UK)
Date: Tue Sep 20 2005 - 10:27:37 EDT 

Quoting Paul Cockshott <wpc@DCS.GLA.AC.UK>:
 
> 
> I don't see why Phil is opposed to the notion of a material
> surplus?
> 

For many reasons.  Andrew Kliman's paper "Simultaneous Valuation vs. the
Exploitation Theory of Profit", especially section 3, argues that, although a
semi-positive physical net product is a sufficient condition for reproduction,
it by no means necessary.

I am not troubled even if the physical net product is all negative. The value of
output will exceed the value of inputs in aggregate because the labour time
equivalent of aggregate money value added is positive.  If 1 million clock
hours are worked then aggregate money value added is 1 million hours. Embodied
labour value added is also 1 million hours since aggregate money value added is
its equivalent.

Phil

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