Re: [OPE] Mastering Marxian Economics

From: Ian Wright (
Date: Mon Jul 28 2008 - 18:44:40 EDT

Hi Phil

> I am saying that the expression 'value of labour' is irrational because
> value and labour are identical. No-one would say "the value of embodied
> labour ..." because the value of produced commodities and their embodied
> labour is the same thing. 

Yes. And this is what Marx means when he underlines the irrationality of
asking, "what is the labor-value of labor?"

> Similarly, labour activity, or living labour,
> and value creating activity are the same thing. Further, the
> labour-power of the producer commodity and its value are the same thing.
> Changed terminology is required to express this. Speak of embodied
> labour value, value creating labour activity and labour-power value.
> This labour-power value has nothing to do with necessary labour time. If
> measured in clock hours, one hour of the producer commodity hired means
> one hour of labour-power value. Labour-power value is not embodied
> labour.

But I begin to lose you here. I think it's important that there be a
quantitative difference between the labor-value of the real wage and the
direct labor supplied. This difference is the source of new surplus-value.

In your approach is this distinction lost?

Best wishes,
ope mailing list

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