[OPE-L:3018] Re: Re: Defining accumulation

From: JERRY LEVY (jlevy@sescva.esc.edu)
Date: Fri May 05 2000 - 07:30:55 EDT

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Re Paul C's [OPE-L:3013]:

An issue: you contrast the "flow rate of profit" (s/c+v) with the
"stock rate of profit" (s/K). You also recognize that c, v, and s
are all "flow" categories. Yet, in *defining accumulation*, Marx
uses the "flow" categories of c, v, and s rather than the "stock"
category of K ("s", it appears, can be both a flow and a stock in
your interpretation depending on the dimension used). Thus, are
suggesting that "accumulation of capital" should be *re-defined*
in terms of "stock" categories?

If that were done, when (if ever) would the "flow" categories
"re-appear" in the accumulation process? If "a flow is just the
derivative of stock with respect to time", then how would (could?)
stocks be valued when (if?) they were converted back into flows?

Or are you perhaps suggesting another "transformation problem":
the transformation of the flow of c into the stock of K and
back again into c and so on?

In solidarity, Jerry

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