Re: [OPE] [2] Marxian equilibrium & reply to Wright.

wpc@dcs.gla.ac.uk

To be sure one would have to look at the original french and then 
compare the usage with what
was current in mid 19th Century french literature.

Alejandro Agafonow wrote:
>
> I’m sorry Paul, I don’t understand why you think that Marx meant “a 
> decline in the payment to labour or a decline in wages”.
>
> Alejandro Agafonow
>
> ----- Mensaje original ----
> De: Paul Cockshott <wpc@dcs.gla.ac.uk>
> Para: ope@lists.csuchico.edu
> Enviado: miércoles, 6 de febrero, 2008 21:03:57
> Asunto: RE: [OPE] [2] Marxian equilibrium & reply to Wright.
>
>
> Alexandro,
>
> By the phrase 'depreciation of labour', I think Marx meant, in those 
> passages, a decline in the payment
> to labour or a decline in wages. This is something different from a 
> depreciation of commodities below
> their value.
>
> It must also be born in mind that this is a relatively early text, and 
> his economic terminology at
> this stage is not quite the same as he used later on in Capital.
>
>
> Paul Cockshott
> Dept of Computing Science
> University of Glasgow
> +44 141 330 1629
> www.dcs.gla.ac.uk/~wpc/reports/
>
>
>
> -----Original Message-----
> From: ope-bounces@lists.csuchico.edu 
> <mailto:ope-bounces@lists.csuchico.edu> on behalf of Alejandro Agafonow
> Sent: Tue 2/5/2008 11:33 PM
> To: OPE@lists.csuchico.edu <mailto:OPE@lists.csuchico.edu>
> Subject: [OPE] [2] Marxian equilibrium & reply to Wright.
>
> 2) Ian Wright 25/08/2007: «Why do you think that the labour-value of a 
> commodity depends on the market? The labour-value of a commodity 
> depends on the conditions of production. In Marx's theory by 
> definition it is not possible that the "market mechanism depreciates 
> [the] labour content" of a commodity.»
>
> In The Poverty of Philosophy Marx and Engels expressed the idea of 
> labour's depreciation brought about by "imperfect" competition:
>
> (A) Karl Marx: «Competition carries into effect the law according to 
> which the relative value of a product is determined by the labor time 
> needed to produce it. Labor time serving as the measure of marketable 
> value becomes in this way the law of the continual depreciation of 
> labor.» (Marx: The Poverty of Philosphy, Ch. 1.2)
>
> (B) Karl Marx: «The continual depreciation of labor is only one side, 
> one consequence of the evaluation of commodities by labor time. The 
> excessive raising of prices, overproduction and many other features of 
> industrial anarchy have their explanation in this mode of evaluation.» 
> (Marx: The Poverty of Philosphy, Ch. 1.2)
>
> (C) Frederick Engels: «In present-day capitalist society [.] demand is 
> finally satisfied in one way or another, good or bad, and, taken as a 
> whole, production is ultimately geared towards the objects required. 
> How is this evening-out of the contradiction effected? By competition. 
> And how does competition bring about this solution? Simply by 
> depreciating below their labour value those commodities which by their 
> kind or amount are useless for immediate social requirements [.]» 
> (Engels: The Poverty of Philosophy, Preface to the First German Edition)
>
>
> Yours sincerely,
> Alejandro Agafonow
>
>
>
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