RE: The simple/elementary form of value considered a s a whole (was Re: Charlie Andrew's book)

["Forstater, Mathew" <ForstaterM@xxxxxxxx>]

"...the common substance that manifests itself in the exchange-value of
commodities, whenever they are exchanged, is their value.  The progress of our
investigation will show that exchange-value is the only form in which the value
of commodities can manifest itself or be expressed.  For the present, however,
we have to consider the nature of value independently of this, its form."
(_Capital_, Vol. 1, International, 1967, p. 46).

I don't see either one as short-hand for the other. Exchange-value is the
expression of value.

I remember Shaikh's T.A., Salim Khan, had a quote from Descartes about candles
and wax that was a good analogy for the relation between value and exchange
value (and use-value?).  Anybody know if Marx used this and/or what the quote is
or where it's from?


-----Original Message-----
From: Timework Web [mailto:timework@xxxxxxxxx]
Sent: Thursday, September 21, 2000 9:54 AM
To: pen-l@xxxxxxxxxxxxxxxxxxx
>Subject: [PEN-L:2122] The simple/elementary form of value considered as
a whole (was Re: Charlie Andrew's book)


Originally, Charles Brown (CB) wrote:
> >CB:  Do you happen to recall where Marx makes the distinction between
> >"exchange value" and "value" ?  I thought "value" was shorthand for
> >"exchange value" in _Capital_.

Jim Devine suggested a passage on page 128 (vintage) 38 (progress). The
explicit distinction is on page 152/66. Marx is clear in stating that
value and its magnitude DO NOT originate in exchange value, they are
"expressed" in exchange value. He also apologizes for misleading
the reader at the beginning of the chapter by saying that "a commodity is
a use-value and an exchange-value" but he excuses the abbreviation as
harmless ONCE WE KNOW the subtle distinction between value, which is
embodied in the commodity, and exchange-value, which is manifested only in
a relationship with a second commodity of a different kind.

Rather than value being a shorthand for exchange-value, Marx used
exchange-value as a shorthand for value!


Tom Walker
Sandwichman and Deconsultant
215-2273