[OPE-L:3321] RE: accumulation of capital revisited

Gerald Lev (glevy@pratt.edu)
Tue, 8 Oct 1996 13:13:55 -0700 (PDT)

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Paul C wrote in [OPE-L:3317]:

> If v were 0 then there would be no incentive for capitalists to accumulate
> constant capital. It would obviously be cheaper to throw away their
> machines and have all the work done by hand. The assumption of free labour
> power undermines the premise of accumulation.

Well ... if we assume conditions of capitalist production [which are
excluded under the *strict* v = 0 assumption], then labor would still
require means of production to produce commodities. Certainly, constant
*circulating* capital would be required.

Oh, what a tangled web we weave when when first we attempt to reduce
complex non-linear dynamic processes into simple one-sector models.

In Solidarity,