I am plowing thru a huge backlog of emails now that classes are over.
There are many participants (e.g. Gil, Jim D., Nancy Bomback) to PEN-L 
who have their browsers set to send both text and HTML (this is in 
the options set up).  As a result, Those of us who are stuck with 
older email servers end up getting massively long missives.  Unless 
there is some pressing reason your need to send both text and html, 
please change your settings.

An example of what gets sent is below.

Thanks,
Doug Orr
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Subj:   [PEN-L:27422] specifics from ANTHRO-L critics re: LTV

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Date: Sun, 30 Jun 2002 23:02:56 -0400 (EDT)
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Subject: [PEN-L:27422] specifics from ANTHRO-L critics re: LTV
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I wondered if the list would have any opinions on some specific arguments 
from the ANTHRO-L list re: the labor theory of value. All of the following 
have to do with the idea that value derives not from labor, but from supply 
and demand.

1. Supply and demand is the constraint [on the amount of value in the world 
at any given time, since it isn't labor]. It doesn't matter how much 
something cost, in labor, materials, etc. if there is no demand for the item. 
It's just supply and demand.  I've seen two recent examples of this that 
illustrate that idea very well. The first is mud pies.  If value is a 
function of labor then a mud pie will have some value based on that labor, 
but then a mud pie that took someone 5 times as long to create should have 5 
times the value. We all know that's not the case because mud pies have no 
value (outside the world of art subsidized by grants).  
 
2. The other is gold.  If value was a function of labor a gold nugget that 
had to be dug out of a mine would be worth proportionately more than an 
identical nugget found on the ground. 
 
3. A few years ago Coca Cola was looking at a smart vending machine where the 
price of a soft drink actually fluctuated on the basis of supply and demand.  
On hot days the price would rise as more people were thirsty, while on 
cold/low demand days it would drop below it's (sic) regular price, though the 
cost of producing the drink never changed.

As before, I very much welcome your comments and perspectives.

nancy brumback
professor of integrated ecological studies
new college of california
766 valencia st.
san francisco, CA 94110
415-437-3405
[EMAIL PROTECTED]

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<HTML><FONT FACE=arial,helvetica><FONT  SIZE=2>I wondered if the list would have any 
opinions on some specific arguments from the ANTHRO-L list re: the labor theory of 
value. All of the following have to do with the idea that value derives not from labor,
<BR>
<BR>1. Supply and demand is the constraint [on the amount of value in the world at any 
given time, since it isn't labor]. It doesn't matter how much something cost, in 
labor, materials, etc. if there is no demand for the item. It's just supply and demand.
<BR> 
<BR>2. The other is gold. &nbsp;If value was a function of labor a gold nugget that 
had to be dug out of a mine would be worth proportionately more than an identical 
nugget found on the ground. 
<BR> 
<BR>3. A few years ago Coca Cola was looking at a smart vending machine where the 
price of a soft drink actually fluctuated on the basis of supply and demand. &nbsp;On 
hot days the price would rise as more people were thirsty, while on cold/low demand day
<BR>
<BR>As before, I very much welcome your comments and perspectives.
<BR>
<BR>nancy brumback
<BR>professor of integrated ecological studies
<BR>new college of california
<BR>766 valencia st.
<BR>san francisco, CA 94110
<BR>415-437-3405
<BR>[EMAIL PROTECTED]</FONT></HTML>

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