[Marxism] two questions

george snedeker snedekerg at verizon.net
Sun Aug 12 19:28:57 MDT 2007

1. I would have thought there would be more of a discussion from a Marxist perspective on the crash of the credit markets on this list. The credit bubble has finally torn, if not actually broken and very little is being said about it. I don't get it! Perhaps people are waiting to see how all the chips fall before engaging in speculation. 

2. It is very common to talk about Marx's "Labor Theory of Value." The only problem is that Marx never discussed a Labor Theory of Value, only what he calls
the "law of value." Does anyone know how and when the idea of the "labor theory of value" came to be used? Was it Engels who first began using this terminology
or did it come later? Somehow I think it was in Engels popularization of Marx's ideas that this came about but I'm not sure about this.   

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