[OPE-L:7983] Re: Re: Re: relation of VCC to OCC

From: Michael Perelman (michael@ecst.csuchico.edu)
Date: Sun Nov 10 2002 - 18:12:12 EST

Marx thought that capital goods -- factories -- were produced by handicraft labor,
while consumer goods -- textiles -- were produced with advanced technology.  He
thought that eventually technical change would become more common in the
production of capital goods.  Michael Leibowitz pointed me to the appropriate

"Fred B. Moseley" wrote:

> But I think Marx generally assumed that technological change would
> increase the TCC, both because the quantity of raw materials processed per
> worker would increase and because the system of machinery would be bigger
> and more complex.  And the concept of the OCC serves to focus his analysis
> of the trend over time in the VCC solely on the effects of technological
> change on the VCC, abstracting from other factors that also affect the
> TCC.
> Comradely,
> Fred


Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@ecst.csuchico.edu

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