On Sat, 11 Nov 2000, Rakesh Narpat Bhandari wrote: > Part of the confusion results from how c, v and s take on different > meanings in the determination and the resolution of value. > > In the determination of value, we have the value of means of > production consumed (c) plus the new value value added [v (1 + s/v)]. > > > c + v(1 + s/v) => C > > New value added here merely represents the direct labor time embodied > in the output. In short we have indirect and direct labor time. > > However, the value of a commodity (C) is monetarily resolved into > cost price (c + v) and surplus value (s) in its many forms: profit, > rent, interest, etc. > > C => (c+v) + s > > Marx substitutes > > C=> k + s Rakesh, what is your textual evidence for this intepretation of constant capital and variable capital as having two different meanings, one for the determination of value and the other for the monetary resolution of value? I don't know of any passage in which Marx said anything like this. I think that for Marx, constant capital and variable capital are always DEFINED consistently in the same way - as the sums of money-capital invested to purchase means of production and labor-power. Means of production and labor-power are purchased with money, not with labor-time. Constant capital and variable capital (as these money quantities) could be DETERMINED as proportional to the labor-times quantities required to produce the means of production and means of subsistence, but the DETERMINATION of constant capital and variable capital is a separate issue from the DEFINITION of these variables. Rakesh, you don't need this "dual" interpretation of constant capital and variable capital to maintain the essentials of your interpretation. You could argue that: 1. C and V are DEFINED in terms of money, in both the determination and the monetary resolution of value. 2. But the money-quantities of C and V are DETERMINED as proportional to the labor-times quantities required to produce the means of production and means of subsistence. All the rest of your conclusions would still follow. I thought this is what you accepted in your recent "Fred is correct" post (4444), that constant capital and variable capital are "monetary sums". Did I misunderstand you? Comradely, Fred
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