Re: [OPE-L] workers' consumption and capitalists' consumption

From: Philip Dunn (hyl0morph@YAHOO.CO.UK)
Date: Mon Jun 05 2006 - 14:13:22 EDT

Hi Ian

No new surplus value produced in circular flow? I'm puzzled now. Just
because there is a steady state and surplus value is not increasing? I
have always thought that new value added and surplus value was created
in every turn round the loop.


On Mon, 2006-06-05 at 10:48 -0700, Ian Wright wrote:
> Hi Phil
> > No typo. I am saying that leaving capitalists' consumption out of what
> > labour produces is equivalent to the real cost definition. The value of
> > capitalists' consumption is immortal in these circumstances. It just
> > goes round and round. Labour creates only the value of workers'
> > consumption.
> >
> > Similarly, if workers' consumption transfers to the commodity produced,
> > labour creates only the value of capitalists' consumption. The value of
> > workers' consumption is then immortal.
> I'm sorry but you'll need to expand on this because I don't
> understand. Not sure what you mean by "immortal" in this context
> either. In a circular flow no new surplus-value is produced, so in
> that sense labour-value is continually reproduced and "goes round and
> round".
> Best wishes,
> -Ian.

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