Date: Fri, 25 Jul 1997 14:44:26 -0500
From: Doug Henwood <dhenwood-AT-panix.com>
Subject: Re: M-TH: Re: Info Revolution


Hugh Rodwell wrote:

>Also, given the above arguments it becomes obvious that an understanding of
>Marx's distinction between productive and unproductive labour helps us
>understand what's going on in modern society with the growth of the public
>sector (socialization of the production of labour-power), the attacks on
>the public sector (primitive reactions against the mode of production
>developing behind the backs of capitalist production relations and
>threatening them), the apparent paradox's of cultural production and
>perhaps above all the fact that so-called "services" are in fact
>commodities a lot of the time and being pooled into the social aggregate of
>value that is used to keep up the rate of profit when the value being
>produced in more highly capitalized sectors is shrinking and can't be used
>for keeping anything up.

So the importance of value theory, contra Jerry Levy, is as a theory of
imminent catastrophe?

Doug




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