Here's one more to consider: In the refutation to Citizen Weston, (VP&P) Marx demonstrates that an increase in the wage does not change the value of the commodity, but rather increases the portion of the total value of the commodity going to the worker(s). The value of the commodity, being in the result of the socially necessary labor time of its reproduction is unaffected. Prices, being the mediated, distorted, concrete expressions of value, may go up, down, or remain unchanged,
In Volume 3, however, Marx introduces the prices of production to explain the formation of the general or average rate of profit. The POP is made up of the costs of the constant and variable capital embedded in production. COP, plus the capitalists' estimate of the average profit. Commodities between sectors exchange at their POPs (assuming commodities within sectors do not--corn doesn't exchange for corn in this schema). However if this is indeed the case, the increase in wages does lead to an increase in the cost of production and thus does produce a corresponding price increase in the commodity or it leads to commodities exchanging below the average rate of profit, every time, all the time. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#35070): https://groups.io/g/marxmail/message/35070 Mute This Topic: https://groups.io/mt/111037083/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: marxmail+ow...@groups.io Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [arch...@mail-archive.com] -=-=-=-=-=-=-=-=-=-=-=-
