Law of Value 10: Price and Value by Brendan M. Cooney

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brendanmcooney·Dec 23, 2012

[Here’s a yo-yo. Let’s say it took an hour to make, parts and everything. And here’s a bag of high-fructose jelly beans. Let’s say they took 20 minutes to make. What if they both sold for $5, despite having different labor contents? Wouldn’t this be a big problem for Marx’s value theory?

When people get their panties in a bunch about price/value it’s over this issue of price and value not being the same all the time. Ack! Is this non-identity of value and price the end of Marx and the end of all radical politics?]

For full text, footnotes, suggested reading and PLENTY OF ROOM FOR COMMENTS AND DISCUSSION please visit my wordpress blog:

https://kapitalism101.wordpress.com/2012/12/23/law-of-value-10-price-and-value

From the archives:

Law of Value 1: Introduction by Brendan M. Cooney

Law of Value 2: The Fetishism of Commodities by Brendan M. Cooney

Law of Value 3: Das MudPie by Brendan M. Cooney

Law of Value 4: Use-Value, Exchange Value, Value by Brendan M Cooney

Law of Value 5: Contradiction by Brendan M. Cooney

Law of Value 6: Socially Necessary Labor Time by Brendan M. Cooney

Law of Value 7: Production and Exchange by Brendan M. Cooney

Law of Value 8: Subject/Object by Brendan M. Cooney

Law of Value 9: Abstract Labor by Brendan M. Cooney