- Capitalism and Alternatives -

Gee obviously doesn't like the LTV

Posted by: Samuel Day Fassbinder ( Citizens for Mustard Greens, USA ) on November 03, 1999 at 16:47:15:

In Reply to: On the speculators use-value posted by Gee on November 03, 1999 at 14:10:19:

: : SDF: Not necessarily. Capitalism breeds a class of people who are called speculators, who make their money simply by buying and selling properties without using them. The profits of speculators have NOTHING to do with the "use-values" of the products they trade, at least not to the speculators themselves.

: What use are the bought and sold commodities to the speculator? Lets say its coal. Well the use isnt to heat, it doesnt get used just sold on for more than it is bought. So the use-value to the speculator is in its potential to be sold for more money.

SDF: That's an EXCHANGE VALUE, Gee. Such potential is not idiosyncratic, it's a calculable matter of how much money. Look, if you don't like the distinction between use-value and exchange-value, then you don't like the LTV. Why don't you just come out and admit it?

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