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Fred wrote:
> I argue that, within Marx's analytical framework of the circulation of
> capital, "the capital that is turned into means of production" is one
> component of the initial money-capital, M, that is used to purchase means
> of production in the first phase of the circulation of capital. What else
> could it be? What else is "turned into means of production" besides the
> initial money-capital?
A portion of society's labour time is turned into means of production.
Paul Cockshott
Paul@cockshott.com
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