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"clyder" <firstname.lastname@example.org> said, on 05/03/00 at 10:39 AM:
>I would hold that accumulation of capital can only take place when there
>is a net increase in the value of the stock of capital held by the
>proprietorial class. This stock of capital is of necessity entirely
>embodied in material objects - buildings, machines, stocks of finished
>but unsold products etc.
>Such an accumulation of capital will, unless the average productivity of
>labour is declining be associated with a growing 'pile of goods'. Given
>that rising labour productivity is the norm in modern society, I don't
>understand your [Julian] diatribe against physicalism and a growing
>stock of goods.
Yours is nothing other than a neoclassical focus of "accumulation of
capital" used by Solow, et al. It does not even use value categories (as
in "constant capital"), much less consider that accumulation has anything
to do with the producing class.
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