[OPE-L:262] The general (f)law of capitalist accumulation [digression]

glevy@acnet.pratt.edu (glevy@acnet.pratt.edu)
Sat, 14 Oct 1995 15:48:10 -0700

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Since Alan has forwarded his PEN-L post to OPE-L, I don't see any reason
why we can't talk about this subject as a digression, particularly since
we digressed previously on the GLCA. I am forwarding Paul C's PEN-L post
as well (BTW, look at Shortall, pp. 411-414 for a discussion of
interest-bearing capital in Marx).

Please try to start sending in your "brainstorming" posts to the list.
You don't have to wait to the last minute as you did when you submitted
papers as a student.

In OPE-L Solidarity,


---------- Forwarded message ----------
Date: Sat, 14 Oct 1995 14:01:06 -0700
From: Paul Cockshott <wpc@clyder.gn.apc.org>
To: Multiple recipients of list <pen-l@anthrax.ecst.csuchico.edu>
Subject: [PEN-L:916] Re: The general (f)law of capitalist accumulation?



Fine. Then why doesn't the process of capitalist accumulation cause the demand for interest capital to increase along with the demand for labor power, leading to an increase in interest rates and (following Marx's logic), a potential desire among industrial capitalists to *lower* the technical composition of capital?

Paul ---- I would have said that it is because interest bearing capital is not a commodity, but a social relation, and that thus analysis based on supply and demand misses the point.