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Re: [OPE] Mastering Marxian Economics

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Philip Dunn wrote: 
Money has two values. The reason for this is that produced commodities
and producer commodities are incommensurable in exchange. They have no
common measure. Absolute money measures the value of produced
commodities. Real money measures the value of producer commodities.
There are two disjoint spheres of equal exchange. In a money economy the
medium of money ensures that effectively everything exchanges with
everything else. Produced commodities exchange equally with produced
commodities. Producer commodities exchange equally with producer
commodities. But exchange between produced and producer commodities is
neither equal nor unequal because they have no common money measure.

This incommensurability is what makes surplus value possible.

So profits arise, not from unequal, but incommensurable exchange. The problem with this theory is that it obscures the specific mechanism by which surplus labour is extracted under capitalism.

//Dave Z


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