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Commensurability Quotes

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Commensurability Quotes

“It [Money] renders commodities directly commensurable by becoming their standard of value.”

Money Value Commodity Commensurability

Book:Finance Capital: A study in the latest phase of capitalist development

Source: Finance Capital: A study in the latest phase of capitalist development

“Commodities are the embodiment of socially necessary labour time. But labour time as such is not expressed directly, as it is in the society envisaged by Rodbertus, in which the central authority establishes the unit of labour time which it will accept as valid for each commodity. Labour time is expressed only in the exchange commensurability of two articles. Thus the value of an article, i.e., its average time of production, is not expressed directly as eight, ten or twelve hours, but as a specific quantity of another article. In other words, a natural object with all its material attributes expresses the equivalent value of another thing. For example, in the equation, one coat equals twenty metres of linen, the twenty metres of linen are the equivalent of one coat simply because both are embodiments of socially necessary labour time. It is in this sense that all commodities are commensurable.”

Commodity Exchange Socially Necessary Labour Time Commensurability

Book:Finance Capital: A study in the latest phase of capitalist development

Source: Finance Capital: A study in the latest phase of capitalist development