[OPE-L:5402] Re: Re: Re: Re: Re: Re: Re: Re: Re: turnover time and surplus value

From: Allin Cottrell (cottrell@wfu.edu)
Date: Mon Apr 23 2001 - 22:10:22 EDT

On Mon, 23 Apr 2001, Rakesh Narpat Bhandari wrote:

> >The "annual rate of surplus value", introduced in Vol. II, should not
> >be confused with the ordinary rate of surplus value from Vol. I, and
> >only the latter bears the interpretation of a rate of exploitation.
> I am not confusing the two; nor did I forget either. In Vol II Marx
> does not call one the annual rate of surplus value and the other the
> rate of exploitation. Can you show me where he distinguishes between
> the two in this way?

Yes.  Vol. II, Ch XVI, section 1 (Moscow ed., p. 308):

"It follows ... from what has been set forth above that the annual
rate of surplus-value coincides only in one single case with the real
rate of surplus-value which expresses the degree of exploitation of
labour; namely in the case where the advanced capital is turned over
only once a year..."

There are numerous other places where the same distinction is made or
implied, and Marx consisently uses the term "real rate of surplus
value" for the ordinary s/v.

Allin Cottrell.

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