Date: Sun, 28 Aug 1994 12:10:40 +1000 From: Steve.Keen-AT-unsw.EDU.AU Subject: Re: re:value Dear Donna, I agree with you that the issue of productive and unproductive labor is an important one. But it is not th nction of his uv/ev analysis to delineate one from the other, as you seem to imply: "In short, the so-called dialectic between exchange and use-value not only says nothing about the value productivity of all factors of production but also further specifies which labor produces surplus value "from the standpoint of bourgeois economy." The use-value of all labor power is not productive from the standpoint of bourgeois economy." You read the entire passage as one consistent application of the same logic. I read it as an initially correct application, followed by a mistake. The correct application is the insight that "all commodities" are the "opposite" to labor; the error is the assertion that the essence of "all commodities" is labor. I have earlier cited Bose's _Marx on Exploitation and Inequality_ on this: if you attempt to reduce all commodities to labor, you are inevitably left with an irreducible core of commodity inputs, which cannot be reduced to labor (equally, you can go the reverse way, reducing all commodities to 99.999% commodity inputs--but never being able to get rid of a fraction that must be attributed solely to labor). Marx's initial insight was thus correct--that all commodities are the opposite, that you can't reduce the opposite of capital to just one commodity. The error was to perform that reduction in the very next paragraph--because labor-power is a commodity (though one with its own dialectic). Cheers, Steve Keen ------------------
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