OK, that now I'm back from a very successful "Squatter's May Day" Tompkins Square Park concert that was produced by some anarchist and squatter friends, I'll address the following question in Rakesh's [5461]. > Jerry, you mean even with the real or simple > rate of surplus value remains constant. What is > the 'status' of the annual rate of surplus > value in your estimation? Suppose there are now two turnovers per annum instead of 1. The difference in turnover time does not (necessarily) cause a real rate of surplus value / annual rate of surplus value divergence. It all depends on whether the composition of capital is altered after the first turnover when the second period begins. If the composition of capital remains the same, then the two are identical. What matters is the mass of surplus value that capitalists can invest at the end of the first turnover in c and v. In the example of a reduction in turnover time caused by a reduction in circulation time, then additional capital that had previously taken the form of commodity capital can now be invested into additional c + v at an earlier date. If c and v are invested in the same proportions as before then there is no divergence in that ratio, c.p.. > The important thing is that if any capital is to lie > fallow, any > capitalist will prefer it to then be in the form of money capital. This is a matter where capitalist preferences may not enter into it. In the example I gave ...of course ... the capitalists would have preferred that their commodity capital had been transformed into money-capital. This is just another way of saying that they would 'prefer' to reduce their stock of commodity capital and sell their inventory that represents unsold output. To be also to sell these commodities they have to find buyers -- whatever their individual preferences. > At > least in that form he will be able to get some > interest. Right -- but as I explained above it may not be an option depending on the form that the 'fallow' capital is in. In solidarity, Jerry
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