[OPE-L:5446] Re: Re: Re: Re: Re: Re: Re: turnover time and surplus value

From: Rakesh Narpat Bhandari (rakeshb@Stanford.EDU)
Date: Fri Apr 27 2001 - 12:54:27 EDT

>I think it makes more sense to take surplus value as the fraction of 
>the working day, and to separate movements in the rate of turnover 
>analytically. Rakesh wants to measure surplus value per turnover of 
>capital, which is a coherent idea, but the conventional division is 
>probably better to maintain.

Duncan, I maintain the convention division (the real or simple rate 
of surplus value) in the annual rate of surplus value; it just 
becomes a component of a more complete measure.

As Marx puts it:

real rate of sv x variable capital advanced x n
             variable capital advanced

n of course is the # of turnovers.

In this more complete measure we do indeed have to retain the real 
rate of surplus value; we just build on it. Moreover, even though the 
rate of surplus will increase as long as n is greater than 1, the 
origin of the annual mass of surplus value (in real terms) remains 
the surplus labor performed during the working day.

Yours, Rakesh

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