Re: [OPE] devaluation and revaluation of variable capital

Date: Fri Feb 15 2008 - 07:04:49 EST

Jerry wrote:
"After all, *working class housing* is also an "element of variable capital" which can impact the costs of reproduction of labour-power."
I think that is a mistake. Housing costs are a variable capital cost, only if they are part of the labour costs directly met by capitalists. Variable capital and the reproduction costs of labour power are separate concepts.

Hi Jurriaan:

Note that I put "elements of variable capital" in quotation marks. That was quite deliberate.

Here's a quotation, which I cited previously, directly from the
section on the revaluation of variable capital:

        "The release and tying-up of variable capital that
         has just been investigated [209-212, JL] is the
         result of the devaluation and revaluation of the
         elements of variable capital, i.e. the costs of
         reproduction of labour-power". [VIII, Penguin ed, 212]

So how would you interpret the above, including the meaning of "elements of variable capital"?

In solidarity, Jerry
ope mailing list

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