Re: [OPE-L] questions on the interpretation of labour values

From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Mon Apr 23 2007 - 09:11:36 EDT 

--- Pen-L Fred Moseley <fmoseley@MTHOLYOKE.EDU> wrote:

> Ajit, what about capital goods used only for the
> production
> of non-basic goods?
____________________
In that case that capital good is a non-basic and a
tech change in that capital good will have influence
on the values of only those non-basics to which it is
an input. But this is a particular case and should not
be used for a general argument.
_____________________
>Fred:
> The further removed a capital good is from the
> production of
> a given final good, the less effect a change in the
> value of
> the capital good will have on the price of
> production of the
> final good.
____________________
But it also depends upon the rate of profits and not
just how removed it is form the good. Take a look at
Sraffa's chapter 6 on dated labor.
_____________________
  The most significant causes, by far, of
> a change in the
> price of production of a final good is a change in
> its
> own value, or a change in the value of capital goods
> which enter
> directly into the production of the final good.
_________________________
It may sound right but is not necessarily right. The
system of production is too complicated a web. As I
said, take a look at the dated labor chapter. Cheers,
ajit sinha
>
> Comradely,
> Fred
>
>
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