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

Daniel Rocha danieldiniz at gmail.com
Sun May 12 10:52:32 MDT 2013


Market prices is the most superficial layer in Marx's analysis and it is
only in approximation that it approaches price of production prices.
Production prices can only be determined in approximation with long term
term averages, and for that, there are different methods, which might
diverge a lot. Market price is the only layer whose numerical value is
determined by supply and demand and also the only layer that vulgar
economics is able to analyze.


2013/5/12 Shane Mage <shmage at pipeline.com>

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> 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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-- 
Daniel Rocha - RJ
danieldiniz at gmail.com



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