Value, prices and probabilities

What is the connection between value and price? Moshé Machover concludes his discussion of the labour theory of value

This is an edited version of the second half of a talk given on January 21 at a weekend school on the ‘Fundamentals of political economy’ sponsored by the CPGB. The first part of this article, based on the first half of my talk, was published in the last issue of the Weekly Worker.[1] We looked briefly at the basics of the labour theory of value (LTV), as Marx presents it in the first volume of Capital, clarifying the notion of the (exchange) value of the commodity and the vital distinction between labour and labour-power.

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Letters

Answer me!; Dead end; Tusc's progress; Peak coal; Day off; Resort retort; Zim 6 'guilty'; Sister act

We can still win

The executive of the Public and Commercial Services Union has decided that "PCS members will not be taking part in the March 28 strike" against the attack on pensions. Tina Becker spoke to Lee Rock (assistant branch secretary, department for work and pensions, Sheffield) about the decision

Police try to stop anti-fascist book launch

Despite the clearly political intervention of the police, cowardly Quakers, and a handful of EDL youth, there was no stopping Tony Greensteins book launch in Brighton.

Monti forces through right to sack

With most union leaders caving in, the Italian premier has got broad agreement for the proposed eradication of the workers statute. Toby Abse reports

Top bracket

Why not help out the paper that challenges left-wing dogma, and give a donation today? Robbie Rix cajoles.

A tale of two states

Harry Paterson compares the treatment meted out to two bloggers for their 'grossly offensive' comments

Not Jesus but Brian

Ade Morris (writer and director), Ralph Bernard (producer) Dust; on tour. David Douglass reviews.

Fur flies over Lenin

What has the debate over 1912 got to do with current communist practice? James Turley answers the philistines

Rowan Williams quits before next great schism happens

Eddie Ford demands the immediate disestablishment of the Church of England

Fresh attacks as unions retreat

The capitulation of many trade union leaderships, the further attacks on workers living standards that will result, and the rotten failure of lefts bureaucratic horse-trading demand we rebuild the rank and file, says Chris Strafford.

Weekly Worker 906 is also available in PDF format