At 10:09 PM 5/11/97 -0700, Fred Mosely wrote:
>1. In Vol 1, the main question of the theory is the determination of the
>total amount of surplus-value in the capitalist economy as a whole. The
>main conclusion is that surplus-value is the monetary expression of surplus
>labor. The total amount of surplus-value is determined in production,
>prior to circulation, and is proportional to the total amount of surplus
>labor (with the proportionality factor the inverse of the value of money).
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How is surplus labor determined whose monetary expression is 'surplus
value'? In my opinion, the unit of surplus value is labor-time and not gold
or silver. What kind of textual evidence do you have for your claim?
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>
>In this theory of the total amount of surplus-value in Vol. 1, Marx assumed
>that all commodities are sold at their value. Therefore, the total amount
>of surplus-value realized is equal to the total surplus-value produced in
>production.
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How is the value determined in your framework, and what is its unit?
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I agree with you on the point that realization is not a problem as far as
Marx's theory of value and surplus value is concerned. Cheers, ajit sinha