Re: [OPE-L] old and new understandings of Marx's value theory

From: glevy@PRATT.EDU
Date: Sun Apr 08 2007 - 13:02:28 EDT

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> This is an old misunderstanding of Marx, which has the effect of
> dissolving the distinction upon which he insisted, between values
> and prices.


Hi Allin:

I think you are the one with the old understanding of Marx since your
view does not fully appreciate the distinction between the production of
value and the *actualization* of value.  A newer and improved grasp of
Marx's theory of value understands that value only becomes fully _real_
with exchange: that's the meaning of 'actualization', often translated as
'realization'.

In solidarity, Jerry

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