On Aug 9, 2008, at 7:32 AM, negative potential wrote:
> The manuscript that forms the basis for Vol. 3 is
> actually the chronologically *oldest* of the
> manuscripts for the three volumes. So in that sense,
> it is theoretically not up to the level of the
> monetary theory of value developed by Marx in chapter
> one of Vol. 1.
But it's not just a matter of chronology, but of scope. The credit system is a much larger-scale thing than simple commodity production and exchange.
> This raises a lot of interesting
> problems/questions concerning issues such as, for
> example, the "transformation problem", since the idea
> of a conversion of value into production prices seems
> a bit incompatible with a conception of abstract labor
> as a "real abstraction" consummated in exchange
Could you expand on this? It sounds interesting, but I'm not sure what you're saying.
Doug