[OPE-L:1646] Re: Do capitalists accumulate?

Allin Cottrell (cottrell@wfu.edu)
Sat, 30 Mar 1996 17:57:20 -0800

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On Sat, 30 Mar 1996, Paul Zarembka wrote:

> Allin, What is your defintion of "accumulation of capital"? This term is
> so loosely used as to become almost meaningless, in my view. Paul

As I understand it, this phrase has a broad and a narrow meaning. The
broad meaning is, roughly, the expanded reproduction of capitalist
relations of production. The narrow meaning is, or includes, an
increase in the stock of means of production, measured not in 'constant-
price' quantity terms, but in terms of the labour-time they embody.
The latter meaning was the relevant one in the context of the posting
to which you refer.