| This question <21|24> overall <21|23> Hans: <17|27>. |
| 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? |
| [22] Hans: Relationship between Value and Exchange Value The two answers to question 49 which we received are very different, and they complement each other. |
| Number [14] starts with: “The commodity cannot produce extra value for itself”, meaning (I think) the commodities cannot give each other value by the exchange. That value must come from somewhere else. |
| Submission [21] says, on the other hand, that labor alone cannot give value, it must be socially validated labor, and that can only happen by the exchange. |
| Both are right. Number [14] sums the relationship between value and exchange value up by saying that exchange value is the “form” of value. Number [21] adds that it is however by no means a “formality”, private commodity-producing labor must go through this form to become part of the social division of labor. |
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