Re my [5449]: I think I might have botched the numbers in the hypothetical example that I gave but the fundamental point remains sound. Specifically, one can see that when there is a reduction in turnover time due to decreased circulation time that the mass of surplus value and profit can increase even where the rate of surplus value and the organic composition of capital remain constant. In the case of a reduction of productive capital in stock where there is a reduction in turnover time caused by a reduction in production time, the effect is two-fold. Firstly, this reduction in fallow productive capital in stock (e.g. the stock of constant circulation capital not currently "in use") "frees up" a quantity of money capital for additional investment in c and v. This then allows for an increase in the mass of surplus value and profit. Secondly (and this is where Paul C and Allin are right), this reduction in constant circulating capital has the effect of reducing the organic composition of capital and thereby leading to an increase in the rate of profit. Just-in-time (kanban; flexible) production could be seen in this way. In solidarity, Jerry
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