| This question <143|143> overall <138|144> Shelley: <84|298>. |
| Question 219: In 158:4, Marx writes the following about the general form of value: “Only this form, therefore, has the effect of relating the commodities with each other as values, or enables them to appear to each other as exchange-values.” Why didn't he write: “or enables them to appear to each other as values”? |
| [143] Shelley: Marx wrote “or enables them to appear to each other as exchange-values”, instead of “or enables them to appear to each other as values”. The reason is: The form, general form, is the core in commodities that relate to each other as value (annotations 139:4). Also, “Once one commodity has been singled out as the general equivalent, it is no longer the use-value of the commodity serving as equivalent that matters, but the fact that every other commodity expresses its value in that same equivalent commodity. This value expression of all other commodities makes the equivalent commodity directly exchangeable, in other words, the equivalent commodity can be used to buy all other commodities.” [Ann:139] |
| We have some amount of linen, this is a value and is the equivalent commodity that has exchange-value to be used to buy all other commodities. This gives a real and quantifiable value in relation to all other commodities. |
| Oak [2003fa:126] states: the usefulness of an item is determined by its ability to serve a purpose. I really think that Oak explains value here well. Value is some form that is useful, as a core in a commodity and with labor, then a new form arrives: exchange-value. So, value and exchange-value must be understood when talking about arriving at this general form. The importance, if I understand correctly, of general form, “The general form of value is not only an expression of value, but an expression of value by a social relation involving all commodities” (annotations 140:2). I understand this to mean: the social relation being the equivalent commodity to be used to buy all other commodities. |
| In research to better explain an answer to this question: [2003fa:105] August: but continue on to read the whole thread. |
| Hans: The general equivalent enables the commodities to appear to each other as exchange-values, i.e., by being compared to this one simple and unique thing, gold, they signal to each other how much power they have in the market to attract other commodities. This allows them to enter into exchange relations with each other that are based on society-wide demand and supply, rather than the individual circumstances of the traders. This leads to an equilibrium in which the quantities supplied are adjusted in such a way that prices are proportional to labor content. |
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