[OPE-L:6304] RE: Re: Historical, real and current costs

Francisco P. Cipolla (cipolla@tamandua.sociais.ufpr.br)
Tue, 17 Mar 1998 18:31:38 -0300 (EST)

If the problem being discussed by Michael Willians and Andrew
Kliman has to do with circulation of capital how can we perform this
discussion without ever introducing here the impact of the turnover time
on the rate of profit? I do not think we need to say that the flow of
value differs from the flow of labor in order to explain why a product
will be worthed more than the labor expended in its production. The
greater turnover time, due in this case to an extra production period
which is not a laboring period, implies that a normal rate of profit will
be achieved only if this capital gets more than the new value added.
Again, I would add that since you guys know this I must be missing
Paulo Cipolla