[OPE-L:5404] Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: turnover time and surplus value

From: Rakesh Narpat Bhandari (rakeshb@Stanford.EDU)
Date: Tue Apr 24 2001 - 05:24:16 EDT

>On Mon, 23 Apr 2001, Rakesh Narpat Bhandari wrote:
>>  Consider again the example which I gave. Workers can produce a given
>>  quantity in half the time....
>When you refer to your example, do you mean what you wrote in
>OPE-L:5373, or did I miss something prior to that?  If you're talking
>about 5373:
>         c    v  sv  s/v    r
>I      100  50 50  100%  33%
>II     100  25 50  200%  40%
>could you expand on what you suppose to be happening here?  You said,
>"If the variable capital goes from turning over once a year to twice a
>year, then the rate of surplus value (s/v) has to be doubled--even
>assuming the size of the working population, the working day and the
>real wage are being held constant."  I'm not clear what the change
>v=50 -> v=25 is supposed to mean.

The v column represents the variable capital *advanced* per annum. 
The advanced capital only turns over once per year in Case I. 
Production time is halved in case II; Case II then represents two 
production cycles. With a halving of production time in case II,  the 
capitalists will only have had to have *advanced* half the variable 
capital which they had advanced in case one. In the second cycle of 
Case II, the variable capital results not from what the capitalists 
have themselves advanced but from the sale of labor's own product 
which given a halving of production time can already take the money 
form and thus be converted back into variable capital. I argue that 
since capital can thus use labor's own greater productivity as 
manifested in a reduction in production time to reduce the variable 
capital which they must themselves advance and thus to raise their 
rate of profit, the capitalists have effectively exploited the 
working class at a higher rate. And it is this exploitation which 
explains the improvement in profitability. I would not account for 
the improvement in profitability in case II by a reduction in 
production time since I do not think reduced time can itself generate 
more profits.



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