[OPE-L:1771] Re: Accumulation of capital in Ch. 24, V1

chaion lee (conlee@chonnam.chonnam.ac.kr)
Sun, 14 Apr 1996 05:19:52 -0700

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Jerry quotes as follows,

"The employment of surplus-value as capital, or its reconversion into
capital" (Penguin ed., p. 725)


Well, the primitive accumulation of capital does not require surplus values to convert into capital.
Accumulation of capital implies as the word itself says the increase of capital value. Then, what is capital value? The value that can play as a capital.
Then, what is value? It is impossible to define it. Why? Because it is the
most abstract. If it can be defined by a certain concept, then the concept would be more abstract than the value, which leads a contradiction in terms.
The God is the most abstract in the theology. So, it is analysed in a triad fomular. Value, too is to be analysed in a tria formula. The substance of value, the magnitude of value, the form of value (the transformation of value into price).

In conclusion, the accumulation of capital is the increase of capital value, which implies many facets of capitalist production mode. The capital value, itself is controversally implying a lot of things, isn't it?