>>> [EMAIL PROTECTED] 10/09/00 01:18PM >Exchange value is the *form* of value, not value
>itself (and it does *not*
consiste in labor time). The exchange value of a commodity is the total
list of all the commodities in the world with which it may exchange. The
exchange may occur directly, or it may be performed indirectly with the
use of money. If I sell a chair for so many dollars and then buy four
digital disks with the money, the exchange value of a digital disk is
one-fourth of a chair. And so on. 1A = B/3 = 20C = 1058D =
1/1004E et cetera et cetera et cetera. No mention of value (labor time)
of price (the price is merely the appearance of the exchange value).
*Value* is social labor encased in a privately owned product.
So *Value* is determined by the magnitude of labor in an object.
Exchange Value is a relationship among commodities.
((((((((((
CB: Carrol, so from what you say, isn't the exchange value determined by the magnitude
of labor in the various commodities ? The relationship among the commodities (exchange
value as you define it) is determined by the magnitudes of labor in them, isn't it ?
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