labor theory of value (o'connor)

Barbara Laurence cns at cats.ucsc.edu
Fri Jul 23 16:28:45 PDT 1999


Better late than never. Getting the latest issue of CNS off to the printer captured all my attention the last two weeks, but I wanted to contribute to a few of the interesting topics that have been discussed during that time.

Roger: reproduction cost of labor are socially determined outside of production because it's not only the worker who must be reproduced but also the social relationship between labor and capital.

1. I think monies expanded only to reproduce class relations are better seen as social expenses, i.e., not productive of surplus value, but rather guard labor of different types. Labor to prevent something from happening rather than labor to make something happen including to produce something.

2. The reproduction costs of labor has two parts. First, is the average consumption basket (measured by an indes number). Second is the value content of this basket, meaning, roughly, productivity of labor. In Marx's general law of cap. accum., the value content falls, thus cet. par. increasing relative surplus value in the system as a whole. Whether workers get a piece of this via shorter hours, higher wages, etc., is another thing. That is whether workers increase the size of the basket is another thing, dependent on the class struggle.

I mean that the latter is determined outside the system, as it were, the former within or inside the system. I think, Jim O'Connor



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