[OPE-L:3967] Re: More on negative surplus value

Gerald Lev (glevy@pratt.edu)
Sat, 11 Jan 1997 05:46:09 -0800 (PST)

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Michael P wrote in [OPE-L:3964]:

> I believe that this process was in fact operative, at least in the U.S.
> in the late 19th century. Technical change was rapid enough that
> capitalists could not recover their capital outlays. In this
> environment, both labor and capital suffered losses, even though the
> economy was expanding rapidly. I suspect that something similar might
> be brewing today.

A couple of questions (with comments):

(1) [an empirical/historical question] Re the late 19th century (in the
advanced capitalist economies), I think you are right. Yet, I am
curious about your comment that you believe "something similar might
be brewing today." Where do you see the evidence of this possible

(2) [a theoretical question for all] For the moment, let's suspend the
talk about negative s. Under what conditions after exchange can there
be a "deduction in value"? That is, what other than use can cause a
decrease in commodity values *rather than* simply a redistribution of
surplus-value among capitalists?

In solidarity, Jerry