: It means "one pound". As in the currency used to measure 'stored' or accumulated value.
What is value measured in? What is teh basis of this measurement.
When I say X = £1 I am saying that some feature of X is held the same by £1.
I could express it £1 = X, and thus demonstrate that £1 is a commodity, which I am buying with my X.
But what is the basis, what is the measurment, what is the quality in common that that equasion expresses.
: As in, what does 'one hour of labor' mean? Back-breaking work? Doing my taxes for me? Loafing? What?
One hour, of any human labour, of avergage socially necessary labour.
: 'Pounds' measure value. That value is variable, and is subject to market forces. One might be similarly obtuse, and pester an algebra teacher as to exactly how much 'x' is.
But what is it measuring market force in? Unless I am comparing X with £1 on some common basis, X = £1 becomes meaningless, utterly devoid of propositional content.
: My God. Has it come to this?
this, is fundamental, does money measure a feature of teh product, or simple desire, if so, how is it all quantified, how does it work. your answer amounts to "it works becuase it does".