======================================================================
Rule #1: YOU MUST clip all extraneous text when replying to a message.
======================================================================
>From Wikipedia (because I can find it quick):
The labor theories of value (LTV) are heterodox economic theories of
value that argue the value of a commodity is only related to the
labor needed to produce or obtain that commodity and not to other
factors of production (except as those elements can be regarded as
embodied labour.)
Note that unless you think commodities exist only under capitalism,
there is nothing system specific in this definition. Once the cotton is
reduced to a commodity, it doesn't matter whether it was produced by
slaves in ancient Egypt, slaves in the US South, or wag workers with
modern equipment, LTV or more properly SNLTV (socially necessary labor
theory of value) still applies.
Clay Claiborne, Director
Vietnam: American Holocaust <http://VietnamAmericanHolocaust.com>
Linux Beach Productions
Venice, CA 90291
(310) 581-1536
Read my blogs at theLinux Beach <http://claysbeach.blogspot.com/>
________________________________________________
Send list submissions to: Marxism@lists.csbs.utah.edu
Set your options at:
http://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
