Stephen Sanderson wrote:
>Moore I think is quite right to say that the labor theory of value is
>inadequate, and that many more things go into determining value. However,
the
>Marxian position on the importance of labor is still relevant; even though
>labor may not be the only thing determining value, it is still one of the
most
>important things. Capitalists are always looking for ways to lower their
wage
>bill, and this has important implications for capitalist development.
I agree. Much of the labor theory of value is problematic but the LTV
remains nonetheless, a central tool in the critical analysis of capitalist
society because it demonstrates:
1. that even though the appropriation of surplus is hidden in capitalist
society, surplus is nonetheless appropriated by individuals other than the
direct producers.
2. production is (and should always be understood as) an antagonistic
process - a process of struggle where one party (capital) attempts to
extract the maximum amount of value from the other party (labor) and return
as little value as possible.
3. capital is labor, the accumulation of capital is merely the accumulation
of stolen labor.
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Carl H.A. Dassbach DASSBACH@MTU.EDU
Dept. of Social Sciences (906)487-2115 - Phone
Michigan Technological Univ. (906)487-2468 - Fax
Houghton, MI 49931 (906)482-8405 - Private