[OPE-L:64] [OPE-L:300] Re: Re: Re: Chapter 1

Allin Cottrell (cottrell@ricardo.ecn.wfu.edu)
Thu, 5 Nov 1998 23:18:50 -0500 (EST)

> By the way, what is value? ajit sinha

I know this definition is not favoured by all list members, but
I have always understood "value" to mean the labour-time
socially necessary for the production of any given commodity.
This definition makes possible, but does not prejudge, the
question whether actual exchange ratios are in line with values.

Allin Cottrell.