[OPE-L:1841] Re: Accumulation of capital in Ch. 24 & 25

glevy@acnet.pratt.edu (glevy@acnet.pratt.edu)
Sun, 21 Apr 1996 06:39:30 -0700

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Paul Z wrote in [OPE-L:1840]:

> Sure, it can be a real phenomenon, and I'd look to production of absolute
> and/or relative surplus value as concepts for organizing analyses of
> those concrete situations.

As logical categories, absolute and relative s are introduced prior to the
transformation of s into capital. They are presuppositions for an
analysis of the accumulation of capital since an increase in the
magnitude of s, at this level of analysis, will lead to an increase in
the accumulation of capital (if we hold the division of s into capital
and revenue constant).

Do you agree?

If an increase in absolute or relative s (or a depression of wages below
the value of labor power) leads to an increase in capital invested, what
do we call it?

Do we call it the accumulation of capital?

If so, we should recognize that the additional capital can be invested in
more c and v (Paul Z's definition), or an increase in v holding c
constant -- possible if there is an underutilization of existing c -- or
an increase in v holding c constant.

While we could advance reasons for why the second and third possibilities
might be special cases, what is the *name* that we give to those

In OPE-L Solidarity,