Re: [OPE-L] Proposition #2

From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Tue Mar 06 2007 - 08:55:58 EST

Hi Ajit:

Yes,  I mean an abstract theoretical model of capitalism.

Capitalism is understood here as a *mode of production*
in which there is:

*  private ownership and control of  the means of production by
      capitalists where
*  capitalists  hire wage-workers
*  in order to produce *commodities*
*  for the purpose of making a *profit*.

In this abstract model of 'pure' capitalism, there are *only 2
classes*: capitalists, who have a monopoly of ownership and
control of means of production, and wage-workers who
neither own nor control any means of production.

Let's use the following *initial definition* of commodity (to
be developed at greater length as we proceed):

* any good or service which is produced with the intention
   of selling it in order to make a profit.

(The above comes, almost word-for-word from a text but as
per our agreement I won't tell you by whom.  At this point --
having already established agreement on the subject matter --
I'm only specifying some basic *institutional characteristics* of
the subject.)

We will define profit later.

In addition,  assume the following:

*  there is no state, and;

*  a closed model.

The above, along with the assumption of only 2 classes, are
*simplifying assumptions* which can be relaxed at a later level.

(There will be some other simplifying assumptions which will be
presented as we continue.)

In solidarity, Jerry

> Is it an abstract theoretical capitalism or some given
> empirical capitalism? I suppose you mean the former.
> So go on define it.

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