[OPE-L:2605] Re: Repairing labor

From: Gerald Levy (glevy@PRATT.EDU)
Date: Sun Mar 26 2000 - 09:22:09 EST

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A little more on Chai-on's [OPE-L:2554]:

I'm not sure which edition of Volume 2 Chai-on was quoting from, but
the Penguin edition has a significantly different version of this
paragraph (pp. 252-254). Significantly, whereas the edition that Chai-on
cited indicated that that this "must be classed as circulating capital",
the Penguin edition has "The capital spent on it belongs to that part of
fluid capital ...." (Ibid, p. 253). There is also no mention in this
paragraph in the Penguin edition of how this represents "unproductive

More to the point is the following:

         "The extra capital that is replaced in this way is part of the
          fluid capital, even though the expenditure is of an irregular
          kind. Since it is of the utmost importance to treat every
          ailment of the machinery immediately, every large factory has,
          in addition to the factory workers proper, a staff on engineer,
          carpenter, mechanic, fitter, etc. *Their wages form part of the
          variable capital* and the value of their labour is distributed
          over the product. The expenditure that the means of production
          require is determined according to this average calculation and
          always forms a corresponding portion of the value of the
          product, even though it is in fact advanced at irregular
          intervals and so also enters the product, i.e. the fixed
          capital, irregularly. This capital spent on repairs in the
          strict sense forms in many respects a capital of a peculiar
          kind; it cannot be properly classed either as fluid or fixed
          capital, but, since it is part of the running expenses, it
          tends towards the first of the two forms" (Ibid, p. 255,
          emphasis added, JL).

In solidarity, Jerry

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