Paul B writes: Rakesh, you art not denying that profits are made by the armaments capitalist, ie that surplus value is extorted from their employees. Why then are these workers not productive of capital? > > > But this argument then denies that the armaments capitalist extorts surplus value ( profits) from the workers. So you contradict yourself. How can the State spending both realise profit as you state 'So a debt has been incurred equal to the sum of costs + profits in the arm mfg's sale to the government', but at the same time NOT produce SV ? Paul B, But profit and surplus value are not the same. The commercial and banking capitalists make the former without the producing the latter, yet the private property of these capitalists does serve them as capital. The question then is whether purchases by the state represent a similar kind of deduction from surplus value. > > In your quote Mattick is not saying what you say. nb where I have highlighted the text which is consistent with what I have said Highlights did not come through. Yours, Rakesh
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