Subject: [OPE-L:1696] Re: Re: determination of value transferred
From: Fred B. Moseley (fmoseley@mtholyoke.edu)
Date: Thu Nov 18 1999 - 13:39:42 EST
This is a question for Andrew.
Andrew, you have said in recent posts that you now agree that the textual
evidence suggests if the price of cotton changes while a batch of
already-produced yarn is on the market (not yet sold), then the value
transferred from the cotton to this already-produced yarn will change
correspondingly, right? In this case, the value transferred to the
already-produced yarn will no longer be equal to the actual historical
cost of the cotton now worked up into yarn, nor will it be equal to the
"pre-production costs" of this cotton, right?
How then will the new magnitude of the value transferred to this
already-produced (but not yet sold) yarn be determined, according to your
interpretation? Will it be taken as given or determined in some other
way?
Furthermore, if there is no further change in the price of cotton before
this batch of yarn is sold, then the value transferred from the cotton to
the yarn will be equal to this new current price of cotton, will it not?
In other words, won't the price of cotton as input by assumption will be
equal to the price of cotton as output, even though they are not
determined simultaneously from given physical quantities?
Thanks for your clarification and I look forward to further discussion.
Comradely,
Fred
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