| This question <46|33> overall <46|48> VanHalen: <46|142>. |
| Question 51: 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? |
| [47] VanHalen: MsMarx did a pretty good job of answering the question and my answer is in no means a put down of the answer. However I don't think that the answer MsMarx gave directly came out and answered the question. |
| Ms Marx makes the correct point that use value is different than exchange value and that exchange value is the expression of value. but the question asks as to what determines the Magnitude Of Value. |
| From the paragraph at the bottom of page 129 of Capital, it says,“what exclusively determines the magnitude of the value of any article is therefore the amount of labor socially necessary or the labor-time socially necessary for its production.” |
| Using the logic of Ms Marx and the paragraph at the bottom of pg. 129, I would say that what determines the magnitude value of a commodity is the quantity of abstract labor necessary to produce the product, if it is assumed that abstract labor is the amount of labor socially necessary to produce the item. |
| Hans: Why did you get doubts about your [46] and felt you had to re-do it? I already found [46] pretty good. I will not give you a grade for this one. |
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