- Capitalism and Alternatives -

A note

Posted by: Stoller on December 15, 1999 at 00:10:36:

In Reply to: Stuart shows his inexpertise at dealing from the bottom of the deck posted by Stoller on December 14, 1999 at 10:30:00:

Concerning Kevin and Jack and the LTV, Stuart likes to omit any reference to the concept of socially necessary labor time when assembling his straw men that 'prove' labor time is never averaged by society when deciding how much exchange-value the fruits of labor produce.

Marx: 'The labor-time socially necessary is that required to produce an article under the normal conditions of production, and with the average degree of skill and intensity prevalent at the time' (Capital volume one, International 1967, p. 39, emphasis added).

Is a guitar 'really' worth $4,500---or do some people simply think so (due to what Veblen called an 'imaginary monopoly'?)

Is Kevin REALLY one of the ONLY guys on the face of the planet who can make a $4,500 guitar? Or is he, in fact,one of the only guys on the face of the planet who has put the time and past exertion into making guitars with such a level of skill?

And what about Jack?

Did he put as much time and exertion into HIS guitars? Maybe he did---but celebrities did not know of him, or his 'presentation' in selling his work wasn't as 'attractive' as Kevin's. . . Or maybe Jack didn't put as much time and exertion into his work as Kevin, maybe Jack's prior edcuation didn't prepare him as well as Kevin's in some area (such as 'presentation').

We need MORE facts from Stuart before chucking the LTV away I think.

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