Re: [OPE-L] accumulation of capital and the working class - actual non existence of variable capital

From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Fri Jan 11 2008 - 12:47:43 EST

I would express it as as r = (s-u)/K

where u is unproductive wages

Jerry Levy wrote:
> An alternative is to say that unproductive labour reduces the
> turnover of variable capital and so reduces the rate of profit (ie it makes the variable capital stock larger than it would be if only
> surplus value creating labour power were funded).
> Hi Ian H:
> Yes, that's one way of dealing with the issue. Another way
> would be to say that the denominator in the rate of profit
> equals:
> wages for productive labor +
> wages for unproductive labor +
> constant capital
> This would represent a departure from Marx's accounting but
> has the advantage of treating the wage bill for unproductive
> labor as a cost of production - which, of course, it is.
> In solidarity, Jerry

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