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[87] Tincup: General equivalent form of value. When looking at the General equivalent form of value you will see
that it is represented both negatively and positively. First of all I would
like to explain the negative aspects of this. First the general equivalent
form of value is not the best way to determine the value of labor. This is
the case because the general equivalent form could change and therefore the
value would change. An example of this is that people's wants and needs will
change and nothing will stay exactly the same. You can see this more
clearly by looking at the different seasons that we have. In the winter we
do not have the same needs as we have in the summer. This is because the
weather is different. A commodity like linen will have more value in winter
than in the hot months of summer, therefore in the summer months the labor to
make linen would be less.
The positive aspect of the general equivalent form of value is that
homogeneity is regained. This is a very important thing. By having this
homogeneity regained it makes it possible to trade commodities for other
commodities. For exaple, let's say that you wanted a coat and a coat was
equal to 20 yards of linen. If the two commodities are equal or have the
same value then you would be able to trade 20 yards of linen for a coat. |
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