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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 ^Á£500 is the capital advanced, its
component many be suchthat the ^Á£500 = ^Á£410 constant + ^Á£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 (^Á£410 constant + ^Á£90 variable) + ^Á£90 surplus.
The original capital has now changed from ^Á£500 to ^Á£590. The difference is
s, or a surplus-value of ^Á£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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