| This question <59|86> overall <68|70> Moo: <26|149>. |
| Exam Question 80: In the equation “20 yards of linen = 1 coat,” what is the difference between the left hand side and the right hand side? |
| [69] Moo: 20 yards of linen=1 coat Before explaining the difference between the left hand side and the right hand side of the equation, the relationship should be explained. It represents a value relationship between two different commodities. In my opinion it is an attempt to explain how the old barter economy used to work, before money was even an issue. As Marx states on p. 139, the whole mystery of the form of value lies hidden in this simple form: 20 yards of linen=1 coat. |
| The value of a commodity can only be expressed relatively in relationship with another commodity, it is like if I would sell you one pound of wheat for a dozen eggs. Here I'm putting a value on wheat measured in eggs. In the example Marx uses, linen expresses the value in the coat, the left hand side (linen) has the active role, while the right hand side (coat) has the passive. If the terms in the equation were to switch sides, it would no longer express the same value relationship. Stating that 1 coat=20 yards of linen is not the same as saying 20 yards of linen=1 coat. |
| Keeping in mind that the equation is an expression of value, and in terms of the first commodity (linen) represents the relative value, while the second is equivalent form to express value. Switching terms create a whole new value aspect, now the linen becomes the equivalent form to express value, instead of the coat. |
| It is important to know that even though there is a “equal sign” in between the two commodities, it does not mean that the two have the same value. It just express how much linen one person are willing to give away in order to get 1 coat. |
| Hans: See my message [114]. |
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