Paul wrote in [1770]
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At 21:57 13/04/96 -0700, glevy@acnet.pratt.edu wrote:
>===========================================================================
>*Value*: the socially necessary labor time represented in a commodity by
>its production.
>===========================================================================
Paul C
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This parses oddly. It implies that production is a process of representation.
Chai-on
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When Jerry said "represented", it meant that a labor time was represented by a commodity value (or by a commodity's market value). If a commodity value is to be determined by labor time, then the labor time must be represented in the commodity value.>
So, to be honestly with you, Jerry's definition was a tautological. It cannot be a definition. *Value*: the socially necessary labor time represented in a commodity value. Represented labor time: a commodity value. These cannot be definitions.
Chai-on