From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Sat Sep 01 2007 - 08:02:59 EDT
--- Philip Dunn <hyl0morph@YAHOO.CO.UK> wrote: > On Wed, 2007-08-29 at 15:01 -0700, ajit sinha wrote: > > > Then thinking economists will have to become > > non-thinking economists! Let's suppose I bought a > > Picaso painting 10 years ago for 1 million dollars > and > > sell it today for 10 millions. Where did the > surplus > > labor come into Picaso's painting that I was > keepin in > > a locker in a bank? First tell me what, according > to > > you, would be Marx's answer since I presume we are > > talking about Marx's concept of surplus labor. > Then > > you could tell me what would be your answer if you > > disagree with Marx's answer. Cheers, ajit sinha > > > > > Hi Ajit, > > Marx? Things can have a price but no value? A very > dubious proposition > IMHO. > > Me? Easy peasy. > > As one of the filthy idle rich who dabble in the art > market you count as > self-employed. The market has valued your productive > labour (thirty > minutes toil at the auctioneers to buy the Picasso > and another thirty to > sell it) at (the value of) 9 million dollars. If the > value of money was > a constant 0.1 hours per dollar, your socially > necessary labour time was > 900,000 hours. > > It is difficult with the self-employed to split > wages from profits. > Taking a 50-50 split you have been earning an hourly > wage rate of 4.5 > million dollars. > > Scott Fitzgerald once said "the rich are different > from us". Hemingway > should have replied "yes, they have better wages". __________________________ Are you just a funny guy or you really think that you have a serious understanding of economic theory? My wage of 30 minutes ten years ago and 30 minutes today remain the same? and why? And why should I split my profit at 50-50? Any way, Let's suppose I had another painting which had cost me 1 million but I sold it for only 2 million. These two transactions are done separetly with separate 30 minutes labor expenditure. What happens to my wages and profits now? Cheers, ajit sinha ____________________________________________________________________________________ Need a vacation? Get great deals to amazing places on Yahoo! Travel. http://travel.yahoo.com/
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