Re: [OPE-L] what is irrational in the functioning of capitalism?

From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Fri Dec 01 2006 - 16:15:43 EST

> I think you have to consider the dynamics of the process
> more carefully. If the rate of surplus value rises unusually
> high, then labour is cheap and it will pay capitalists to
> use labour intensive rather than capital intensive techniques.
> Thus the process you hypothesise will be self limiting.

Paul C,

In a dynamic process there is also, though, a trend for the
cheapening of the elements of constant capital.  Whether the
process becomes 'self-limiting' depends on how low wages
go in relation to how low the prices of means of production go.

In solidarity, Jerry

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