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Replying to: On Jun 26, 2017, at 1:41 PM, marxism-requ...@lists.csbs.utah.edu wrote: > > NY Times Op-Ed, June 26 2017 > Back to the Future via Finland Station > by Bhaskar Sunkara In the time of Marx, also Lenin, also Mao, pegging a universally accepted currency for measuring and exchanging equitable amounts of different forms of labour time was inconceivable. Today labor time added between each monetization is tracked around the globe to the nanosecond. But take care. If exchanges are truly equitable -- 5 hours of labor replicating a virus that may or may not knock out cancer cells exchanged for 5 WTCs (World Treasury Chits)exchanged for 5 hours of labor massaging my back or my ego -- no wealth, common or private, is created. It is only when meeting our wants, defined as desires OR needs, requires less [world average] labor TIME from others than we are, for whatever reason, willing to perform, that a social surplus is created. Because this surplus enters our consciousness monetized, as surplus value, and much more of it is expropriated as the private property of a few than as taxes which can conceivably be reallocated, reinvested, redistributed democratically, we haven't thought about how important getting this right is to successfully transform societ[ies] run by agrandizers of privately controlled capital to ones run by socialists. _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: http://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
