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

Shane Mage shmage at pipeline.com
Sun May 12 16:19:49 MDT 2013

On May 12, 2013, at 6:10 PM, Shane Mage wrote:

Whoops! it was MMBKG2 and not Daniel Rocha who posted the Kliman  
> On May 12, 2013, at 5:45 PM, Daniel Rocha wrote:
>> = 
>> =====================================================================
>> Rule #1: YOU MUST clip all extraneous text when replying to a  
>> message.
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>> GDI is determined by accounted market values. Market values vary
>> chaotically and they do not reflect actual social necessary labor- 
>> time.
> Don't you agree that aggregate final prices are equivalent to  
> aggregate labor-time? Anyway, that's what Kliman seems to be saying  
> in the reference you posted.
>> Moreover, they count wages as variable capital, whereas wages can  
>> be part
>> of circulation costs, which should actually subtract, and not add to
>> GDI. Because of this, in advanced capitalist companies, most of the  
>> wages
>> cannot be taken as part of labor exploitation proper, since they do  
>> not
>> produce value, they are only part of necessary costs.
> Wages of "necessary but unproductive" labor are costs, "faux frais,"  
> and Marx treats them as circulating constant capital because "they  
> have to be made up out of pre-existing values."  The GDI, of course,  
> is not organized to reflect Marx's categories like "variable  
> capital." But those wages are incomes and so part of aggregate gross  
> monetary income and as such are part of GDI.  What they (like  
> capital consumption) are not part of is *net* product/income, which  
> consists only of wages of *productive* workers (variable capital)  
> and property incomes (surplus value). In this sense they are indeed  
> to be "subtracted" to arrive at the *produit net*.
>>> The valuation of GDI in monetary  terms divided by the valuation  
>>> of GDI
>>> in hours of socially necessary labor time defines the labor- 
>>> content of the
>>> price unit.
>>> Shane Mage
>>> "Thunderbolt steers all things." Herakleitos of Ephesos, fr. 64

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