Re: [Pen-l] Re: 7 Marxists on the current economic crisis

[Doyle Saylor <doylesaylor@xxxxxxx>]

Greetings Economists,

On Jul 16, 2008, at 9:23 AM, Gernot Koehler wrote:

nothing but a production-side process.

Doyle;

Marx defines value as what work does to something produced.  One can't add to value by 'direct' exploitation of income.  One has to assume from direct exploitation of persons that some sort of work is being done to gain value from.  Normally that is defined by a business and a work process.  Capitalism can't include everyone in a whole because of the class system makes some people not workers, but living on the surplus value.

Monopolies founder on such problems.  They control the whole of some business.  Global finance is a good example, but the chaos in the world system is precisely because the whole can't be united due to capitalism.  A constant churn from growth to stagnation to decline.  And up and back again.

thanks,

Doyle Saylor

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