| This question <88|88> overall <72|74> Bandit: <47|134>. |
| Question 81: Can one say the coat symbolizes the value of the linen? |
| [73] Bandit: is the coat the value of linen? When discussing the term “value” in Marx's terms several words come to mind. First, there is value which according to last weeks discussion is measured by the amount of average labor time it takes a society to produce the commodity. Second, there is the use value. The use value is how much the product is worth to the individual owner. Lastly, there is the exchange value. The exchange value is how much the commodity can be exchanged for - in terms of other commodities. In this question we are discussing the value of the linen in terms of the coat. |
| The linen maker takes time to produce the linen and therefore, he know how much labor time he has put into his commodity. Once the linen is created he has to determine how much it is worth to him - whether he wants to keep it or exchange it for something else. If the linen maker is willing to exchange the linen for the coat then he obviously feels that the coat would have a high use value to him. The linen maker has perfect information about the linen he produced, however, he may not know how much labor time has gone into the coat. If then the linen maker still feels the coat has a high enough use value to him to exchange the linen for the coat, then, Yes the coat is measuring the value of the linen. |
| Hans: Good and clear explanation. There is only one thing you missed: to say symbolize is really too little. The coat is more than a symbol of the value of the linen, it represents the value of the linen. |
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