[Marxism] 'What to do with the Labor Theory of Value'

Shane Mage shmage at pipeline.com
Sun May 12 09:56:25 MDT 2013

On May 12, 2013, at 11:35 AM, Angelus Novus wrote:
>  From the perspective of the "monetary" reading, there is NO  
> transformation problem, because there is no "transforming" values  
> into prices; values cannot be expressed without money.

It ain't as easy as that.  The "tp" is that the sum of final-product  
prices, multiplied by the labor-content of the monetary unit, has to  
equal the sum of values, but the relative prices-of-production of the  
commodities systematically do not correspond to their relative  
values.  Recognition of the fact that values cannot be expressed  
without money ("price is value in the form of money") merely states  
the problem without solving it.

Shane Mage

"All things are an equal exchange for fire and fire for all things,
as goods are for gold and gold for goods."

Herakleitos of Ephesos, fr, 90

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