Chris, Marx puts the dynamism in, in part, by saying that value represents the cost of REPRODUCTION, not production. This is a key element in his analysis of the devalorization of capital.
Chris Burford wrote: > At 06/02/02 20:10 -0800, you wrote: > >This definition of course does not capture the systemic and dynamic > >features which Chris B is attempting to build into his definition. > > "The law of value of commodities ultimately determines how much of its > disposable working-time society can expend on each particular class of > commodities." > > V Vol I Ch 14 Sec 4 > > And how could Marx define the "absolute general law of capitalist > accumulation" in the way he does in Ch XXV if his theory of value was not > a) dynamic > b )systemic? > > Mine is not an overimaginative reading of the overall thrust of Marx's > approach, (although unimaginative readings of Marx's theory are more than > possible). > > Chris Burford -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
