By Jamaica Kincaid
An excellent examine colonialism and its results in Antigua--by the writer of Annie John
"If you visit Antigua as a vacationer, this can be what you can see. when you come through aeroplane, you are going to land on the V. C. chook foreign Airport. Vere Cornwall (V. C.) poultry is the major Minister of Antigua. you will be this sort of vacationer who may ask yourself why a main Minister would need an airport named after him--why now not a college, why now not a clinic, why no longer a few nice public monument. you're a vacationer and you have got now not but visible . . ."
So starts Jamaica Kincaid's expansive essay, which exhibits us what we haven't but visible of the ten-by-twelve-mile island within the British West Indies the place she grew up.
Lyrical, sardonic, and forthright through turns, in a Swiftian mode, A Small Place can't support yet enlarge our imaginative and prescient of 1 small position and all that it signifies.
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The main points about this derivation for our purposes are: (1) the givens in this theory are C, V, Lc and m, as discussed above, (2) the total amount of surplus value is derived as a function of the total amount of surplus labour, and (3) the total amount of surplus value determined in this way is taken as given in Marx's subsequent analysis of the distribution of surplus value (volume III). The general rate of profit is then determined by the ratio of the total amount of surplus value and the given total amount of capital invested (R = SIM), and is also taken as given in the subsequent analysis of prices of production in part 2 of volume III.
The result, as Samuelson (1971) recognised clearly, is simply two discordant systems of exchange ratios. Most authors try, however, to link values to prices by invoking an 'invariance postulate' of their choice, and justify this by asserting that some numeraire is needed (Seton, 1957, p. 152). Yet a numeraire may be selected arbitrarily only if the choice of numeraire is irrelevant to the problem, only if exchange ratios alone matter. Because, moreover, the price-value linkage is indeed arbitrary, none of the critics' solutions actually demonstrates any relation of values to prices.
But note that the terms ml and v in the two equations are not commensurate. 7. Those ei may be identical or different, but for the time being we can take them to be identical . 8) where Ao = nl * 1, vector of i'hsector's material input coefficients and R=rate of profit. 8 is the standard price equation. The price of the ith enterprise product recovers profit rate R above the total cost, consisting of the cost of materials AiPk and the wage bill mil. 9, where the labour value per unit of output Ai is made up of constant capital AiAk and the necessary and Meghnad Desai 7 surplus labour is expressed as (1 + e)v j.
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