[OPE-L:5213] Re: waste, value, and potential

From: Gerald_A_Levy (Gerald_A_Levy@email.msn.com)
Date: Tue Mar 20 2001 - 11:01:06 EST

While re-reading  Vol 1, Ch 7, Section 2 
in connection with another thread, I  noticed the 
following that has significance for this thread:

(From the paragraph that begins: "Moreover,
the time spent in production counts only in so
far as it is socially necessary for the production of
a use-value"): "Lastly -- and for this purpose our
friend (the capitalist, JL) has a penal code of
his own -- all wasteful consumption of raw material
or instruments of labour is strictly forbidden, 
because what is wasted in this way represents a
superfluous expenditure of quantities of
objectified labour that does not count in the 
product or enter into its value." (Penguin ed, 303).

Note, however, that before the raw materials
and instruments of labour can be set in motion
in the labour process they must first be
purchased with money-capital. I.e. they have
value when entering the production process,
but if there is then a violation of the capitalist
"penal code" and are consumed wastefully, then
there is a *loss of value*.  In other words, the
value of the means of production are not fully
transferred to the commodity product in the
course of production: thus value itself is
being *wasted*. 

Expressing the matter differently: the value of
the means of production can be *potentially*
transferred to the commodity product but there
is the distinct possibility (as I suggested in 
a previous post last week on "capacity
utilization" and as I suggest above) that a
portion of that value can be "lost" or "wasted"
rather then being transferred.

In solidarity, Jerry

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