Re: [OPE-L] Capital in General

From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Sun Oct 09 2005 - 22:48:04 EDT

> What
> are your arguments for the assumption that "general nature of capital"
> is the same as "Capital in General"?
> The two terms sound a little bit similar because of  the word "general",
> but I suppose this is not your main reason. Probably your main reason is
> the hint to "competition", which is excluded. What Marx excludes from
> his presentation in "Capital" is the "competition on the world market"
> respectivly (in Hannos quotation) the "actual movement of competition",
> what is also related to the world market as the first sentence makes
> clear. In both passages Marx didn't exclude  a n y  competition from his
> presentation, but the "actual competition", which takes place on the
> world market.

Hi Michael H:

I'm happy you joined the conversation.

The argument that I would make that "capital in general" and the "general
nature of capital"  are basically synonymous is by considering those
references in context.

But, let's not stop there.

The analysis of  "capital in general" is _also_ synonymous with the
"general analysis of capital".

In Vol. 3, Ch. 14,  Section 2 , Marx  writes [re a reduction of wages
below their value]: " many other things that might be brought in, it
has nothing to do with the general analysis of capital ["allgemeinen Analyse
des Kapitals" in the original German, JL], but has its place in an
account of competition, which is not dealt with in this work" (Penguin
ed., p. 342).

Note in this section:

a) the reference is to the "account of competition" rather than the
actual competition on the world market.

b) there is the explicit claim that an account of competition
is not dealt with in _Capital_.

c) this subject of a reduction in wages below their value is
a tendency which is not claimed to be exclusive to the world
market.  In fact, there is no mention at all of the world market
in this section.

d) this same subject has analytical importance: "It is none
the less one of the most important factors in stemming the
tendency for the rate of profit to fall."

How would you interpret the meaning of the "general analysis
of capital" in this section?

In solidarity, Jerry

This archive was generated by hypermail 2.1.5 : Mon Oct 10 2005 - 00:00:01 EDT