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

Shane Mage shmage at pipeline.com
Sun May 12 13:44:37 MDT 2013

On May 12, 2013, at 3:23 PM, Angelus Novus wrote:
> Shane Mage wrote:
>> These are both entirely empirical sums--alternative measurements of  
>> the
>> same aggregate, one in terms of money the other in terms of hours of
>> socially necessary labor time.
> No, because socially necessary labor time, *abstract* labor, cannot  
> be measured by a clock, but only as a sum of money.

We are dealing with aggregates.  The *whole* of socially necessary  
labor time is measured in units of time.  The "aliquot part" of it  
embodied in each commodity is represented as a sum of money.  The  
whole is the sum of the parts.

More information about the Marxism mailing list