tag:blogger.com,1999:blog-5687347459208158501.post1817305144354727961..comments2024-03-28T01:17:42.336-04:00Comments on The Philosopher's Stone: ONCE MORE UNTO THE BREACH, DEAR FRIENDS, ONCE MORERobert Paul Wolffhttp://www.blogger.com/profile/11970360952872431856noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-5687347459208158501.post-19346375445305386742021-09-28T16:53:24.136-04:002021-09-28T16:53:24.136-04:00This comment has been removed by the author.Business Leads Worldhttps://www.blogger.com/profile/06682586770344781777noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-75905639244789732152014-05-06T20:03:57.583-04:002014-05-06T20:03:57.583-04:00Trace, the article is archived on box.net. Just f...Trace, the article is archived on box.net. Just follow the link at the top of the blog. I think the article is on page three.Robert Paul Wolffhttps://www.blogger.com/profile/11970360952872431856noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-45900781637711927342014-05-06T19:05:40.340-04:002014-05-06T19:05:40.340-04:00A blog post's a fine place for economic theory...A blog post's a fine place for economic theory, it whets the palate just enough to stimulate additional demand for your book (used, I'm afraid). <br /><br />Does anyone have a link to or journal name for the aforementioned article ("A Critique and Reevaluation of Marx's Labor Theory of Value")? Searching by title yields no match and Wolff's abbreviated CV is, well, abbreviated. Tracehttps://www.blogger.com/profile/17305270517457218858noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-70179688501883108082014-05-06T18:26:21.584-04:002014-05-06T18:26:21.584-04:00Trace, that's a huge mix up of what Marx was a...Trace, that's a huge mix up of what Marx was arguing. To put it curtly, the capitalists pays a wage to reproduce the worker's labor power (the worker's ability to work), but then it's the worker's labor time that gives value to a commodity, is extended beyond the value point of his/her wage in labor power.<br /><br />Andrew Collier's recent book on Marx is my favorite introductory text, and will clarify the issue quite clearly. Chrishttps://www.blogger.com/profile/08250295324149056708noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-12430570525083461562014-05-06T17:26:41.509-04:002014-05-06T17:26:41.509-04:00I am afraid that is confused in a number of differ...I am afraid that is confused in a number of different ways that it would take me a very long time to sort out. I could suggest that you look at my book, Understanding Marx, and then at the article I mention. That is a lot of work, I realize, but this is actually a complicated subject, and it needs to be understood precisely and clearly. I apologize for this reply, which is not really answering your questions. Maybe I ought not to have tried to write about this on a blog.Robert Paul Wolffhttps://www.blogger.com/profile/11970360952872431856noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-57176872263319878402014-05-06T16:21:14.826-04:002014-05-06T16:21:14.826-04:00I'm trying to understand this post but, either...I'm trying to understand this post but, either because of my misunderstanding of Marx or misreading here, I'm encountering some problems. I would really appreciate it if you can tell me what's wrong in my interpretation.<br /><br />Marx argued that profit is surplus labor value, which is the value generated by a unit of labor power (market price x production by a unit of labor power) minus the fair market wage for that unit of labor power.<br /><br />Now you counter that if production generates profit, then the value of a unit of labor will be, of mathematical necessity, less than one even if there is no surplus of labor produced in the system. I understand this to be saying: <br />- let's assume that there is no surplus labor value. <br />- if the value of the products generated by a unit of labor power (market price x production by that unit of labor) is greater than the fair market wage for that unit of labor power, then it will seem as if the unit of labor power has generated surplus labor value. <br /><br />But isn't this simply redefining Marx's concept of surplus labor value? Wouldn't Marx deem the scenario presented above an internal contradiction?Tracehttps://www.blogger.com/profile/17305270517457218858noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-58526691390031112662014-05-06T16:17:40.266-04:002014-05-06T16:17:40.266-04:00This comment has been removed by the author.Tracehttps://www.blogger.com/profile/17305270517457218858noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-59332190108760309222014-05-05T12:29:42.480-04:002014-05-05T12:29:42.480-04:00It is a great victory. I will be in Seattle the w...It is a great victory. I will be in Seattle the weekend after this one, for a family event, and I shall talk with my wife's son about it -- he is a player in the progressive movement there. America had a socialist movement -- my grandfather was a dedicated part of it in New York one hundred years ago, but it did never grew sufficiently to become a force in American politics, alas.Robert Paul Wolffhttps://www.blogger.com/profile/11970360952872431856noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-67978861397538314562014-05-05T10:07:00.298-04:002014-05-05T10:07:00.298-04:00This is completely off topic, but I just wanted to...This is completely off topic, but I just wanted to celebrate Seattle's raise of the minimum wage. I had read about initiatives that had won out in small towns in America, and even though it will take some years to be effective, I think this is a tremendous victory. Coming from Italy, which had the biggest communist party in western Europe, I sometimes think that the fact that the US was so far removed from the socialist movement makes it a great candidate for a bit of socialist 'action' (even though probably not socialism itself). In a way, people can be more naive and open, exploring the possibility of a high(er) minimum wage, or perhaps even collective ownership, as something new, and not the relics of something that has failed when it was in power or has failed to gain power.Anonymoushttps://www.blogger.com/profile/13337589981696719316noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-86566705301357340522014-05-04T17:25:39.266-04:002014-05-04T17:25:39.266-04:00I felt the scripture line was a bit unfair as I wa...I felt the scripture line was a bit unfair as I was never arguing for anything like absolute Truth, or final answers to timeless problems. My position was only that Marx's theory of value needs to be properly debated, not that everything Marx wrote was correct (it wasn't). I happen to think his value argument is correct, but that doesn't make me a believer.<br /><br />A response is in the works.<br /><br />Chrishttps://www.blogger.com/profile/08250295324149056708noreply@blogger.comtag:blogger.com,1999:blog-5687347459208158501.post-38511549549762127902014-05-04T17:19:27.296-04:002014-05-04T17:19:27.296-04:00Presenting the question as successive puzzles is v...Presenting the question as successive puzzles is very helpful: the clearest explanation I've seen. I wouldn't be disappointed were you to continue with a summary of your own solution. And Marx was wrong, still relevant, and his work isn't scripture. Love it. Jerry Fresiahttps://www.blogger.com/profile/01427077490696059928noreply@blogger.com