[OPE-L:3699] definition of constant capital

From: Fred B. Moseley (fmoseley@mtholyoke.edu)
Date: Mon Aug 21 2000 - 10:55:38 EDT


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This is a brief further response to Paul Z's (3683) about the definition
of constant capital in Chapter 8 of Volume 1. Paul, please look four
pages after the definition we discussed, which is the first page of
Chapter 9 (p. 320) (and indeed please look again at the whole Chapter
9). Here Marx said:

"The capital C is made up of two components, one the sum of the MONEY c
laid out on means of production, and the other the sum of MONEY v expended
on labor-power; c represents the portion of value which has been turned
into constant capital, v that turned into variable capital. At the
beginning C = c + v: for example, if ^500 is the capital advanced, its
component many be suchthat the ^500 = ^410 constant + ^90 variable. When
the process of production is finished, we get a commodity whose VALUE = (c
+ v) + s, where s is the surplus-value; or taking our former figures, the
value of this commodity is (^410 constant + ^90 variable) + ^90 surplus.
The original capital has now changed from ^500 to ^590. The difference is
s, or a surplus-value of ^90. (emphasis added)

I think it is clear that Marx is defining constant capital and variable
capital (and surplus-value) in terms of money. What do you think? Thanks
again.

Comradely,
Fred



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