How do listmenbers understand this passage:
According to Eschwege, the total produce of the Brazilian
diamond mines for the eighty years ending in 1823 still did
not amount to the price of 1 1/2 years' average produce of
the sugar and coffee plantations of the same country,
although the diamonds represented much more labor, therefore
more value.
Vol I, Ch. 1, Penguin, p. 130
Does this mean that diamonds were systematically sold below their
value and/or coffee+sugar above their value? This would be a
price/value difference just in Ch. 1.
Marx also says, just before this passage:
Jacob questions whether gold has ever paid for at its full
value.
Does this mean that, the "price of gold" is lower than the "value of
gold"? What would be the consequences of this for Marx's monetary
analysis?
Alejandro Ramos M.
7.3.97