[PEN-L:29895] Re: Re: Guevara on law of value and world terms of trade

[Chris Burford <cburford@xxxxxxxxxx>]

At 26/08/02 15:27 -0400, you wrote:

> > 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


This has some connection with the terms of trade argument at the earth
summit, and it seems to me with the sort of decision between Russia and
China to settle their accounts in bilateral exchanges between their central
banks rather than in dollars.

The profit motive and commodity exchange are being extensively developed in
both countries, contrary to what Guevara argued in this article,
nevertheless such an arrangement could be made at governmental level, with
or without an extensive use of profits within the countries concerned. This
was my consideration.

A wider question is what are the most progressive, and/or the most
scientific, proposals in circulation at the earth summit, on addressing the
terms of trade?

Chris Burford

London