Value, Price and Profit.

[RotStern]

Value, Price and Profit what do you all think of it?

[Vanguard1917]

Why not tell us what you think of it, first?

[darth_revan]

A good book, doesn't require much economics knowledge and it has a lot to offer for a book that thin.

[ContrarianLemming]

Value - determined by resources used and time it took to make, with other possible things to add on, like how much training is required to make the goods or services you're using, or how much effort it took to make.
same as value

we don't need profit

[Common_Means]

M --> K (c+v) ---> P (c+v+s) ---> M1

[The Vegan Marxist]

M --> K (c+v) ---> P (c+v+s) ---> M1

that's just another way of M-C-M isn't it? Forgive me if I'm wrong, pretty tired right now haha.

[Common_Means]

that's just another way of M-C-M isn't it? Forgive me if I'm wrong, pretty tired right now haha.

M-C-M1 is the simplified version :)

[The Vegan Marxist]

M-C-M1 is the simplified version :)

Yeah, thought so lol. Though, I don't see how M-C-M could get any simpler lol. I mean, we could make it like M-(MP+LP)-C-M, but it's unnecessary use of letters haha.

[Common_Means]

Yeah, thought so lol. Though, I don't see how M-C-M could get any simpler lol. I mean, we could make it like M-(MP+LP)-C-M, but it's unnecessary use of letters haha.

I hear ya. But I think understanding the actually process of primitive and capital accumulations, and more importantly the elements involved, is critical to understanding an array of issues - including value, profit and price.

[Lyev]

M --> K (c+v) ---> P (c+v+s) ---> M1
I've always used this, from Brendanmcooney; M-(MP+LP)-P ... C1-M1 where P = the production process, I think.

EDIT: that's pretty much the same actually. MP+LP (means of production plus labour-power) is the same as c+v (constant capital plus variable capital). But what on earth is K? Is K "commodities"? and is the "s" in "c+v+s" the surplus value carried on from a previous cycle(s)?

[Common_Means]

I've always used this, from Brendanmcooney; M-(MP+LP)-P ... C1-M1 where P = the production process, I think.

EDIT: that's pretty much the same actually. MP+LP (means of production plus labour-power) is the same as c+v (constant capital plus variable capital). But what on earth is K? Is K "commodities"? and is the "s" in "c+v+s" the surplus value carried on from a previous cycle(s)?

It's not an exact formula.

Money used to purchase capital (K) in the form of constant and variable. After his/her purchase, the capitalist (via consumption in a way) produces a product (P, didn't use C as it could have been confusing [did i ever fail]) which embodies the value of the depreciated constant and variable capital, and the surplus value. This is sold for a profit, augmenting the capitalist's money (M1).

EDIT: I should have elaborated on my original post; I see now that without doing so, it is useless. Basically, was just trying to show that concepts such as variable and constant capital exist - which in turn would lead someone to labour and labour-power, machinery, tools, the creation of new value and so on. I should just edit the damn thing out...

[RED DAVE]

Of equal "value"(:D) is Marx's Wage, Labor and Capital (http://www.marxists.org/archive/marx/works/1847/wage-labour/intro.htm).

RED DAVE