Allin Cottrell wrote:
>
> (As "every fule know" labour commanded differs
> systematically from labour embodied if the rate of exploitation is
> positive. Moreover, under conditions of short-run supply/demand
> disequilibrium, labour commanded can differ to an arbitrary extent
> from labour embodied.)
>
After the publication of Capital, vol.1, it would perhaps be more
appropriate to follow what Philip Dunn wrote and explicitly distinguish
between 'labour power commanded' (which is what Smith implied) and
living 'labour commanded' as the average amount of labour content a
given sum of money can appropriate on the market.
In the latter one speak of deviations between 'labour embodied' and
'labour commanded' that arise from supply-demand mismatches etc.
//Dave Z
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Received on Sun Apr 5 13:32:56 2009
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