[OPE-L:5659] Re: Re: Re: Re: Reduction

[Steve Keen <s.keen@xxxxxxxxxx>]

Read Bose, A., (1980). Marx on Exploitation and
Inequality, Oxford University Press, Delhi.

While it is true that the value of commodities can be *measured*
in objectified labour, it cannot be *reduced* to objectified labour.
Hence if value is the essence of the commodity, then that essence cannot
be reduced to labour alone.

Cheers,
Steve
At 01:49 AM 5/24/01 Thursday, you wrote:
> re: Steve's 5654
>
> > The problem is simply put
> > Rakesh:
> >
> > If you believe that commodities can be resolved into labour and labour
> > alone, then you believe in magic.
>
> But Steve no one is saying that; of course there will remain some natural
> residue which is not objectified labor. Marx never said otherwise. In
> fact in both Capital 1 and the the Critique of the Gotha Programme he
> emphasized that wealth is the product of both labor and nature...as you
> surely know  But the value of commodities can indeed be resolved
> into their value or objectified labor alone. So even if we cannot isolate
> a moment at which pure labor operated without means of production, what
> are we saying other than than labor always operates with objectified
> labor? There is only one element in the causal process of
> value--objectified abstract labor.
>
> Don't understand the objection.
> Yours, Rakesh

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