This question <14|22> overall <20|22> Charlie: <330|98>.

Question 49: Is the magnitude of value of a commodity determined by the quantity of abstract labor necessary to produce it, or by the quantity of other commodities against which it can be exchanged?

[21] Charlie: Collective value   The magnitude of value of a commodity is determined not by each hour, minute, or second that an individual laborer pours into the production of a particular commodity. Value is determined by the exchange relationship of all commodities in a society.

The collective interaction of commodities is the only means of determining value because there is no value in an individual's labor quantity. Value only manifests in labor quantity as a societies whole. Moreover, value can not be measured from exactly timing how long it would take an individual to create a commodity. This would mean a slower laborer's commodity would receive more value than faster and more experienced laborer's commodity. However, from the viewpoint of the entire society, value is determined by the average labor time to create a particular commodity. Furthermore, after the average labor time of the society is accounted for, society is able to compare that average to the averages of other commodities in the society; then, determine the exchange value of each commodities in relation to each other. Only through the interaction of the commodities as a whole society can value be place.

Hans: You are excused this time for overlooking the earlier posting, but that had been there for over 24 hours when your contribution came in, and next time you should look at your mail first. My message [22] discusses those two contributions.

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