Marx's value theory (reply to Shane Mage)

Rakesh Narpat Bhandari rakeshb at Stanford.EDU
Wed Apr 4 23:19:47 PDT 2001


Dear Shane,

What I am criticizing is your assumption that the value 'produced' by a machine during the production process can be equated to the rental paid by the capitalist for the use of the machine. That is, I do not agree that the value transferred from the machine is exactly matched by the flow price of the machine. I hope this clarifies things.

Yours, Rakesh



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