Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
2Activity
0 of .
Results for:
No results containing your search query
P. 1
Wape Talk on falling rate of profit

Wape Talk on falling rate of profit

Ratings: (0)|Views: 75 |Likes:
Published by Paul Cockshott
By Paul Cockshott, talk given at World Association for Political Economy meeting Mexico May 2012
By Paul Cockshott, talk given at World Association for Political Economy meeting Mexico May 2012

More info:

Published by: Paul Cockshott on Jun 29, 2012
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

10/21/2012

pdf

text

original

 
Isthetheoryofafallingprotratevalid
PaulCockshott,UniversityofGlasgow May26,201
 
Accumulation 
Marxpresentshistheoryinthecontextofcapitalaccumulation.IvolumeIheisconcernedprimarilyabouttheinteractionof accumulationwiththeworkingpopulation.AlthoughthisisnotsevidentinVolume3thesameconcernsarepresenttheretoo. AccordingtoMarxakeyfactorinunderstandingtheimpactof accumulationisthecompositionofcapital
Thecompositionofcapitalistobeunderstoodinatwo-folsense.Onthesideofvalue,itisdeterminedbytheproportion inwhichitisdividedintoconstantcapitalorvalueofthe meansofproduction,andvariablecapitalorvalueof labour-power,thesumtotalofwages.Onthesideofmaterialasitfunctionsintheprocessofproduction,allcapitalidividedintomeansofproductionandlivinglabour-power.Thilattercompositionisdeterminedbytherelationbetweenthe massofthemeansofproductionemployed,ontheonehandandthemassoflabournecessaryfortheiremploymentonthe other.Icalltheformerthevalue-composition,thelatterthe technicalcompositionofcapital.([Mar87],page387
 
Accumulation:growthoftheproletariat 
Ifthevaluecompositionofcapitalremainsthesame,anincreaseithestockofcapitalnecessarilyimpliesanincreaseinemployment
Accumulationofcapitalis,therefore,increaseofthproletariat.([Mar87],page388
However,ifthegrowthofthelaboursupplyisslow,thedemandfolabourmayexceedthesupplyallowingwagestorise.Thisinturcantendtoreducetherateofprot.Whilstthisconditionwasthe onemostfavourabletothelabouringclasses,Marxbelievedittobtemporaryandselflimiting. 

Activity (2)

You've already reviewed this. Edit your review.
1 hundred reads
Bruce Wallace added this note
Hi I'm very interested in the LTRPF. I'm also interested in the history of capitalist industrial investment in OECD countries but I'm finding difficulty in gathering data. Also your analysis only goes up to 2005. do you have something more contemporary? Your formula shows a lower rate of profit than most other meaures. Historic or current cost for C?

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->