RE: [OPE] peanut butter value-form theory

> Paula: **If they [crackers] don't sell, for whatever reason, then
> the value cannot be realized.**
> Yes. Engels went even further and stated that in this case the labour
> value of commodities devaluates. This happens when overproduction appears
> or when commodities fail in the provision of utility to consumers.

 
Alejandro:
 
Yet Engels is probably the intellectual originator of what Paula called
"the standard Marxist account". You can see clearly with Kautsky and the
other major theoreticians of Austro-German social democracy that they
had a "labor embodied" interpretation. The same could be said for most
of the Bolshevik interpretations of political economy and it was carried
over in the Stalin (see e.g. _Economic Problems of the USSR_) and
post-Stalin era. The standard marxist account can also be seen in most of the
mathematical formalizations of political economy from von Bortkiewicz to
and beyond Sweezy. Dualist interpretations, where there are separate value
and price accounting schemes, are an expression of that intellectual
tradition.
 
In solidarity, Jerry_______________________________________________
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Received on Sat Mar 28 07:11:46 2009