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"clyder" <email@example.com> said, on 05/04/00 at 09:54 AM:
>> 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.
>> Paul Z.
>This is unfair.
>I take it as read that the source of value is productive labour. The
>at issue is when can we say that accumulation is taking place. I say that
>it involves 'a net increase in the value of the stock of capital'. The
>I am using is clearly a value category, I could hardly state it more
>By a net increase in the value of the stock of capital I mean a net
>increase in its value measured in labour hours.
Your message so emphasized physical means of production that I could stand
by my statement that yours can be read neoclassically ("value of the stock
of capital" can mean "K" in a neoclassical context). However, in the
context of this list I accept your point that you meant "constant capital"
as Marx defined it. If an apology is needed, you have it from me.
>This differs from neoclassical formulations in the unit of account.
>As your own article points out Marx acknowledges that a growth of the
>work force employed by capital is not a precondition for accumulation,
>of accumulation thus can not depend on the current size of the work
You are a little me trying to use me against myself, but what I wrote is
that Marx's concept is ambiguous and I am strugging against the ambiguity.
Toward the end of section one I begin a struggle against a definition of
accumulation of capital being growth of either constant capital, c, by
itself, or c +v.
>In determining whether capital accumulation is taking place one is
>concerned with stock calculations. Accumulation is a rate of change of
>stock. The only form of capital stock is what Marx calls constant
>capital. Variable capital does
>not exists as a stock, it is a flow measure. The corresponding stock
>as Smith and Ricardo pointed out, the stock of subsistence goods held by
>retailers etc against which wages are exchanged.
You are offering an alternative definition: "accumulation of capital is
growth of constant capital, c"? If so, what is the difference between
yourself and neoclassical economics on accumulation, other than the unit
Thanks, Paul Z.
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