A couple of remarks in relation to Hans's nice answer on the labour theory
of value.
Hugh asked me the "Gretchenfrage" whether I think the labor
theory of value is valid.
Lovely German expression there, the "Gretchenfrage". Collins German
dictionary doesn't do it justice with "crunch question"
Dear all,
If you could slow down this debate slightly, please can anyone tell
me if in Marx's own day what the relation between the amount of gold
in the economy and the amount of other commodies being exchanged was.
Was there (at that time) enough gold he;d to honour all the
transactions?
Thanks Hugh. This was clarifying for me.
Charles Brown
Hugh Rodwell [EMAIL PROTECTED] 06/07/99 05:31PM
John W writes:
Thanks for all your replies but now I am completely confused.
How can money - as the universal measure of value - function if it
does not itself have any value? If value is
I had written:
Had the Bank of England, under the gold standard, used the
convertibility of its bank notes as the sole criterion for
how many bank notes to issue, it would have issued too many
bank notes.
Lew responded:
Too many bank notes for what? All banks were required by law to only
Rob Schaap wrote:
C'mon Hugh!
You're reaching here:
The book is boring, superficial and grotesquely pretentious. If it was a
straight-forward petty-bourgeois radical attack on Wall Street it would
hardly pass muster because it's such a drag to read, the forest is lost
from sight as each new
