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Re: [OPE-L] Question

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> To give you a little more background of my interpretation of Marx?s
> concept of value:  I argue that in Chapter 1 of Volume 1, Marx
> developed his concept of value in three aspects or dimensions:  the
> SUBSTANCE of value (which is abstract labor), the MAGNITUDE of value
> (which is socially necessary labor-time),


Fred:

SNLT can not be conceived of as merely magnitude:  in addition to having a
quantitative dimension, it has QUALITATIVE aspects. It has the QUALITY of
being socially-necessary.  The qualitative questions concern what TYPE of
labor creates value.  E.g. for labor time to be socially necessary it must
be shown ex post to be _useful labor_. Thus, if 'commodities' are not sold
then the labor time which was used to create them has not been socially
validated as necessary/useful and hence the magnitude of that labor  is
_subtracted_ from the total amount of labor which (potentially) creates
value.

In solidarity, Jerry
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