[OPE-L:6409] OPE-l: Marx's Account of the Transformation

andrew kliman (Andrew_Kliman@CLASSIC.MSN.COM)
Fri, 3 Apr 98 13:08:51 UT

On the PIAF:

From: owner-ope-l@galaxy.csuchico.edu on behalf of Ajit Sinha
Sent: Friday, April 03, 1998 4:18 AM
To: ope-l@galaxy.csuchico.edu
Subject: Re: [OPE-L] Re: Two Rates of Profit

Ajit wrote: "Do you find fixed capital in Marx's transformation equations?
There is no
fixed capital there john."

I'm not sure what Ajit means by transformation equations, but fixed capital is
most definitely present in Ch. 9 of _Capital_ III. Marx wrote, "... we must
take into account that they [the 5 capitals] differ according to the different
composition of _c_ in terms of its fixed and circulating components, ...."
(Vintage, p. 255). And, in the table that follows, the total _c_ is greater
than the "Used up _c_," in every branch.

Andrew Kliman