Recalibrating Socially Necessary Labor or Else?

This article adds to the debate surrounding the analyses of Rieu and Basu et al. on value production effects of labor intensification. First, contrary to the claims of Basu, Hass, and Moraitis, the method of recalibrating socially necessary labor is shown to be consistent with Marx’s text and to provide an intuitive interpretation. Furthermore, the issue of recalibration is argued to be related to a deeper understanding of the relationship between labor time and value. JEL Classifications: B14, B51, C02