fragments of an attempted writing.

a marxism 101 moment...

It can be easy to get confused with regard to the relationship between the Labor Theory of Value and supply and demand.

Three helpful resources for understanding this issue are:

The Law of Value as "Equilibrium Mechanism", being Chapter 5 of The Limits of the Mixed Economy, by Paul Mattick.

Law of Value - 10.  Supply and Demand, (this post is just a draft, but a darn good one) over at Kapitalism101

and especially:

Capital: Volume III, Part Two, Chapter 10, The Equalization of the General Rate of Profit through Competition. Market Prices and Market Values.  Surplus Profit.

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