[OPE-L:3605] Re: Re: Re: Re: Re: constant capital and variable capital

From: Rakesh Bhandari (bhandari@Princeton.EDU)
Date: Sun Aug 06 2000 - 03:35:37 EDT

[ show plain text ]

One more clarification:

>Rakesh Bhandari wrote:

>> $MP C V SV costprice value pp
>> 80 70 20 20 100 110 124
>> 60 70 30 30 90 130 112
>> 90 85 15 15 105 115 131
>> 50 55 25 25 75 105 93
>> _______________________________________
>> 280 280 90 90 370 460 460
>> Rate of profit is 24%.

You then asked me the excellent question:

"How did you calculate your c and v and what are their units?"


How did I calculate c? Remember I claim that while price is the necessary
form of appearance of value, price magnitudes do not allow us to get at the

My point then is we don't really know what to put in the c column. We do
know however that

1. the value of the means of production will tend to differ from the value
of the money needed to purchase them; that is, that there is price value
2. the price-value divergences should cancel themselves out; that is, some
mp should sell above their value to the degree that others sell below

So I could have put any set of numbers in the c column that meets these two

The point of the example is not what c exactly is; the point is that value
of the means of the production consumed in a commodity should not be
equated with the cost price of a commodity.

Marx is arguing that we need to make a transformation of the inputs from
the prices at which they were bought to their value--though the profit
appropriated will be determined by cost price.

How do you read the passage on pg. 264-65?

Yours, Rakesh

This archive was generated by hypermail 2b29 : Thu Aug 31 2000 - 00:00:03 EDT