From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Wed Mar 21 2007 - 09:54:33 EDT
[In reply to Ajit, Fred wrote:] >>>>>>>>>>
The theoretical rational for this determination of unit prices is that
commodities in capitalism are *products of capital*, not single
individual commodities ("Commodities as the Product of Capital" is the
title of Section I of the "Results"). Each individual commodity is
treated as a *aliquot part* of the total commodity product of capital
in AN INDUSTRY. First the total price for the INDUSTRY AS A
WHOLE is determined, and then the unit price of each INDIVIDUAL
commodity is determined as an "aliquot part" of the total price.
(emphasis added, JL) <<<<<<<<<<<<
Hi Fred:
If your perspective is truly macro-monetary, then the argument
should be at the macro level rather than moving from the micro to
the macro level as above.
In solidarity, Jerry
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