[OPE-L:5660] Re: Re: Re: Re: Re: Reduction

[Steve Keen <s.keen@xxxxxxxxxx>]

I think you will find Arun Bose's argument on this front more substantive
than you currently believe.

Also check Marx in Theories of Surplus Value on the value of raw commodities:

"Ricardo never uses the word value for utility or usefulness or "value in
use". Does he therefore mean to say that the "compensation" is paid to the
owner of the quarries and coalmines for the "value" the coal and stone have
before they are removed from the quarry and the mine--in their original
state? Then he invalidates his entire doctrine of value. Or does value mean
here, as it must do, the possible use-value and hence the prospective
exchange-value of coal or stone?" (Marx 1861 Part II, p. 249)

I suggest that it would be rather hard to interpret Marx's statement here
in a manner which makes it consistent with your statement.

Cheers,
Steve
At 04:07 AM 5/24/01 Thursday, you wrote:
> On Wed, 23 May 2001, Rakesh Narpat Bhandari wrote:
>
> > >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
>
> Agreed.  The non-labour residue is composed of the materials supplied
> gratis by nature, which are crucial to a commodity's use-value but
> have no bearing on its value.
>
> Allin.

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