Re: [OPE] Open problems in Marxist economics: Workers' savings

From: Paul Cockshott <>
Date: Wed Apr 07 2010 - 04:23:58 EDT

I cant see one possible problem.
Suppose that 15% of wages were deducted for pension funds. Suppose further that all of this went on the purchase of new equities issued by firms to fund investment in fixed capital. In that case you would be counting labour expended in the production of fixed capital as part of the value of labour power which differs quite substantially from the framework used by KM in Capital II.

From: [] On Behalf Of Gerald Levy []
Sent: Wednesday, April 07, 2010 1:03 AM
To: Outline on Political Economy mailing list
Subject: Re: [OPE] Open problems in Marxist economics: Workers' savings

> Do workers' savings form a part of the total surplus value?

Hi Dave Z;

I would say 'no': they form a part of the total value of labor power.
Like the wage, the VLP has cultural and moral elements and should
not be (mis-) understood as simply equal to the minimum required
(regardless of time and space) for physical subsistence.

What exactly is the problem here from your perspective?

In solidarity, Jerry
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Received on Wed Apr 7 04:35:29 2010

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