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Dear Rakesh,
Let us assume that a slavery production is an exceptional case in the generalised capitalist production.
If the slaves produce surplus value, as argued in your post, it must be increasing the amount of the society's total surplus value. All the capitalists will benefit from it. So, no capitalists will denunciate the slavery system.
If, on the contrary, the slaves do not create surplus value but surplus profit, which means a value transfer from the capitalist producers to the slavery producer, the capitalist production will lose in the competition. And the capitalists will reproach the slavery system and fight against it as if they are humanitarian in The Civil War.
I wonder why did the capitalists in the nothern part of America not introduce the slavery system rather than the wage labor?
Secondly, I would like to raise another question, "Can variable capital constitute an element of fixed capital?"
Why and how?
Chai-on
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