^^^^ CB: In pre-capitalist, class divided societies, commodities are traded on the periphery and between societies, according to Marx and Engels , and anthropologists. In feudalism and slavery most of the wealth is not produced as commodities. Most of the production is for use , not exchange. For example, a feudal manor is substantially, economically self-sufficient, does not rely on trade as its main source of wealth, nor is distribution within the manor by exchange of commodities. In kinship based societies, there are no commodities, but rather gift exchange, which are not commodities.
On Fri, May 2, 2014 at 11:00 PM, Mike Ballard <mbbtraven5 at gmail.com> wrote:
> --
> How wealth is produced and exchanged is what Marx, Smith and Ricardo were
> talking about and forms the basis of the labour theory of value for what's
> valued is wealth. While it is true that wealth presents itself as a vast
> accumulation of commodities for sale in a capitalist political economy, it
> also presents itself as a commodity in simpler modes of production. The
> point is that the exchange-value is measured by the socially necessary
> labour time it takes to produce the wealth and recognition of same by
> buyers and sellers in the marketplace of commodities.
>
>
>
> **************************
> It can't be that simple, since "wealth" was continuously produced for
> thousands of years before capitalist relations of production emerged.
> Abstract labor and "value" are unique to capitalism. Wealth (including a
> surplus) is NOT unique to capitalism. The LTV does _not_ explain wealth; it
> explains _value_, which does not exist prior to capitalism.
>
> Carrol
>
> ************************
>
> JF writes: "This BTW seems also to have been the reason why Joan Robinson
> abjured the label of Marxist, even though she greatly admired Marx. For her
> to be a Marxist required accepting the labor theory of value and dialectical
> materialism. As a good English empiricist she rejected both as metaphysics."
>
> If socially necessary labour time ceased being applied to the production of
> goods and services, no wealth would be produced. That's always swayed
> me toward the labour theory of value.
>
> Mike B)
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