On Feb 20, 2010, at 5:05 PM, Ted Winslow quoted Das Kapital:
>
> “As soon as labour in the direct form has ceased to be the great
> well-spring of wealth, labour time ceases and must cease to be its
> measure, and hence exchange value [must cease to be the measure] of
> use value."
This pregnant passage must be memorized and never forgotten by anyone discussing the Marxian conception of market economics in either capitalist society or in the transition to a fully communist society. Marx is repeating a fundamental concept already expressed in various ways in vol.1, the Contribution to a Critique of Political Economy, and the Grundrisse-Rohentwurf: Use value is *not* a physical concept, it is a social one. Exchange value is not a measure of *value*, it is a measure of *use value*. Very few of the very many writers about Marx have any conception at all of this law.
Shane Mage
The communist creed: From each according to his ability, to each according to his need.
The capitalist creed: From each according to his gullibility, to each according to his greed.
Joe Stack (1956-2010)