[OPE-L:1686] Re: Defining & understanding the accumulation of

Paul Zarembka (ecopaulz@ubvms.cc.buffalo.edu)
Thu, 4 Apr 1996 04:56:19 -0800

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What definition of accumulation are you using in this posting and how do
you response to the issues I raised about accumulation of capital?

Paul Z.

On Thu, 4 Apr 1996, Paul Cockshott wrote:

> >What makes possible the extended reproduction of capital?
> >
> >On one side, *increased production of surplus value* makes extended
> >reproduction and accumulation of capital *possible*.
> >For there to be accumulation, however, increased production of s is a
> >necessary but not a sufficient condition.
> Accumulation of capital is possible when an increased production of
> surplus value takes place, certainly, but it is logically wrong to
> conclude from this that an increase production of surplus value is
> a precondition for capital accumulation.
> It is possible for capital to accumulate even under conditions of
> declining production of surplus value. The consequence is a fall
> in the rate of profit. But it can certainly occur.
> Paul Cockshott
> wpc@cs.strath.ac.uk
> http://www.cs.strath.ac.uk/CS/Biog/wpc/index.html