[PEN-L:29879] Re: Guevara on law of value and world terms of trade

[Louis Proyect <lnp3@xxxxxxxxx>]

> For personal reasons I could not respond to this interesting passage at
> the time. Nor can I do justice to the enormous subject of the law of value
> under socialism, without much more preparation.
>
> But in connection with the great disparities in the level of the
> productive forces on a world scale, Guevara seems to be arguing for
> conscious modification of effect of the law of value in trade within the
> socialist bloc in order to manage the terms of trade.
>
> Even though the socialist economic bloc is no more, these ideas might
> still be possible between blocs of countries opposed to the domination of
> the global economy by the USA and Europe.
>
> Chris Burford
>
> London

Only if profit ceases to exist as an important goal in the capitalist world.


Louis Proyect
www.marxmail.org