Download An Outline of the Dialectic of Capital Volume 1 by Thomas T. Sekine PDF

By Thomas T. Sekine

ISBN-10: 0230372201

ISBN-13: 9780230372207

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Extra info for An Outline of the Dialectic of Capital Volume 1

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In absolutely no circumstances should the expression of value such as (3) above be interpreted as direct barter of linen for a coat. The equality sign [=] does not imply that an actual trade is taking place. The expression of value is only a trade proposal, and not an actual trade. " (4) The presence of a coat-owner and his value expression are totally irrelevant at this point. Only the unilateral expression of the value of linen by its owner is in question now. To emphasise the "one-way" relation, we may follow Marx in specifying that the commodity on the left-hand side of [ = ] occupies the "relative form of value", whereas the commodity on the righthand side of [ = ] is in the "equivalent form of value".

7) In this way sugar almost becomes the general equivalent of the trading system, in the sense that it is wanted by all commodity sellers, without quantitative and qualitative restrictions. I say "almost" because the uniqueness of the general equivalent is not yet established. 1057/9780230372207 - An Outline of the Dialectic of Capital, Thomas T. com - licensed to McGill University - PalgraveConnect - 2013-10-08 40 The Pricing of Commodities 41 Even so, the vital step forward being taken here in the value expression of commodities must be appreciated.

These technologies were, as one might expect, radically labour-saving and environmentally unfriendly. But in the first phase of their extensive adoption in the 1950s and 1960s, the immediate effect was a widespread destruction of the environment rather than a job crisis. The reason was that the demand for material goods was still so vigorous that the absolute scale of production could be expanded much more rapidly than the labour-output ratio fell. This remained the pattern until the oil and environmental crises of the 1970s blocked further development of this type and forced industry to shift to a new phase, which entailed the ME revolution and the discovery of new materials.

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