From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Tue Mar 06 2007 - 08:55:58 EST
Hi Ajit: Yes, I mean an abstract theoretical model of capitalism. Capitalism is understood here as a *mode of production* in which there is: * private ownership and control of the means of production by capitalists where * capitalists hire wage-workers * in order to produce *commodities* * for the purpose of making a *profit*. In this abstract model of 'pure' capitalism, there are *only 2 classes*: capitalists, who have a monopoly of ownership and control of means of production, and wage-workers who neither own nor control any means of production. Let's use the following *initial definition* of commodity (to be developed at greater length as we proceed): * any good or service which is produced with the intention of selling it in order to make a profit. (The above comes, almost word-for-word from a text but as per our agreement I won't tell you by whom. At this point -- having already established agreement on the subject matter -- I'm only specifying some basic *institutional characteristics* of the subject.) We will define profit later. In addition, assume the following: * there is no state, and; * a closed model. The above, along with the assumption of only 2 classes, are *simplifying assumptions* which can be relaxed at a later level. (There will be some other simplifying assumptions which will be presented as we continue.) In solidarity, Jerry _____________________________ > Is it an abstract theoretical capitalism or some given > empirical capitalism? I suppose you mean the former. > So go on define it.
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