RE: [OPE] intermission

I am not talking about things being systematically above or below value, I was addressing your point about the uncertainty of an individual bit of drug research working. I mean that the law of value asserts itself as an average by causing firms to set prices related to the average cost of a successful project, which average includes the cost of all the unsucessful projects.
________________________________________
From: ope-bounces@lists.csuchico.edu [ope-bounces@lists.csuchico.edu] On Behalf Of Gerald Levy [jerry_levy@verizon.net]
Sent: Friday, November 06, 2009 12:06 PM
To: Outline on Political Economy mailing list
Subject: Re: [OPE] intermission

> This is the law of value asserting itself as an average

Hi Paul C:

If there are a category of commodities which are systematically and
ordinarily
sold ABOVE their value then for the law of value to assert itself as an
average there must necessarily be a category of commodities which are
systematically and ordinarily sold BELOW their value. What types of
commodities are the latter?

In solidarity, Jerry

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Received on Fri Nov 6 09:04:09 2009