[OPE-L] 'advancing' money

From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Wed May 17 2006 - 10:00:38 EDT

> Marx argues that the workers give free credit to the capitalist!

Hi Chai-on,

Good point,  but _within Marx's period analysis_ there must be M advanced
for MP and LP _before_ there can be production.  To the extent, _in 
practice_, that wage-workers make an 'advance' to capitalists then it takes
the form of labor activity not money.

> If a capitalist starts his business with borrowed money, does he 
> advance nothing at all?

I'm not sure I understand the question.  Even with borrowed money,
capitalists must still as a condition for production in the next period 
(within the formula C - M {MP; LP} ... (P) ... C' - M') advance 
(the borrowed) money.

In solidarity, Jerry

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