RE: [OPE] peanut butter value-form theory

On Mon, 2009-04-06 at 20:52 +0100, Paul Cockshott wrote:
> Philip
> Also note that, in the TSSI, the MELT defined as total price over total
> value is equivalent to total money value added over total labour time of
> living labour. In this context, 'living labour commanded' and 'dead
> labour commanded' are equal.
> ----------------------------
> But does that not apply only at the average social level not for individual commodities even in the TSSI?
>

I think it does apply to the individual commodity level. Call the real
price of commodity x the dollar price times the real value of money
where the real value of money is aggregate labour-time over aggregate
dollar wages. Call the absolute price of commodity x the dollar price
times the absolute value of money where the absolute value of money is
aggregate labour time over aggregate money (dollars) value added.

True in TSSI, the value of produced commodities deviates from their
absolute prices (dollars divided by TSSI MELT) -- except that constant
capital in the TSSI is valued at its absolute price!

In a VF approach there no such deviations. Absolute price are equal to
intrinsic values.

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Received on Mon Apr 6 20:47:21 2009