Re: (OPE-L) s/v & c/v: macroeconomic categories only?

From: Cyrus Bina (binac@MRS.UMN.EDU)
Date: Thu Jan 29 2004 - 15:11:03 EST


Dear Jerry,

You wrote:

>Is it possible, though, to speak about the composition of capital in
> an individual branch of production (as Marx did)?  If  there is a
> composition of capital in individual branches of production and in
> the macroeconomy (and different compositions of capital in different
> macroeconomies), why aren't there also rates of surplus value in
> individual branches of production as well as an average rate in
> the macroeconomy?

Certainly, as I see it, the composition of capital is being formed through
both intra- and inter-industry competition, and, as such, reflects the
concentration and centralization of capital.  Therefore, it is relevant to
the individual branches of production.  It accords with the composition of
variable and constant parts of capital in VALUE terms in those individual
branches.  It is subject to the transfer of value from one branch to another
branch of production (i.e., transformation of values to prices of
production).  It changes through periodic crises, reflecting the higher
'technical composition' of capital and changes in technology.  Finally,
composition of capital is part and parcel of the production of SV.  But, the
RATE OF SURPLUS VALUE is a macro concept that reflects the totality of
SOCIAL CAPITAL as a whole.  In other words, the concept of EXPLOITATION is
not a partial concept; it is rather an organic category belonging to
undivided LABOR and, by the same token, to undivided CAPITAL).

Regards,

Cyrus

----- Original Message -----
From: "gerald_a_levy" <gerald_a_levy@msn.com>
To: <OPE-L@SUS.CSUCHICO.EDU>
Sent: Wednesday, January 28, 2004 6:18 PM
Subject: (OPE-L) s/v & c/v: macroeconomic categories only?


> Cyrus wrote:
>
> > However, like Simon Moh[u]n, I do not think that the rate of surplus
value
> > belongs to a firm or an industry.  Such a rate is an aggregate
> > relationship
> > that is firmly connects with total social capital.  As such, regardless
of
> > the global unification of oil regions, the rate of surplus value for
each
> > Middle Eastern oil country and that of the US is not a priori the same.
>
> Is it possible, though, to speak about the composition of capital in
> an individual branch of production (as Marx did)?  If  there is a
> composition of capital in individual branches of production and in
> the macroeconomy (and different compositions of capital in different
> macroeconomies), why aren't there also rates of surplus value in
> individual branches of production as well as an average rate in
> the macroeconomy?
>
> c, v, and s are all linked to the money-form so that can't be the reason.
> Since v is in the denominator of both rates,  it follows that if one
> wants to make a claim about the rate of surplus value being only
> a macroeconomic rate, there must be something about s -- and _not_
> v -- which requires that it can only be constituted at the macroeconomic
> level.  Yet,  what about _value_ production  rather than _just_ surplus-
> value production?  To be consistent, it seems to me that either c/v
> and s/v are macroeconomic rates only or they are rates
> that apply at both the level of individual branches of production and the
> macroeconomy.
>
> Can anyone on the list explain the 'macroeconomic only' interpretation(s)
> more fully?
>
> In solidarity, Jerry
>
> > > In the discussion on rent (on the list and in _Capital_), there is
> > > repeated reference to varying compositions of capital in different
> > > branches of production.  E.g. see the quote from _Capital_ on AR
> > > in Paul Z's post yesterday.  Indeed, Marx wrote an entire chapter in
> > > Volume 3 (Ch. 8) on "differing compositions of capital in differing
> > > branches of production....".
> > > * Would others agree that the composition of capital varies in
> > >    different branches of production and is not _only_ "an overall
> > >    macroeconomic category"?
> > > * If the composition of capital can vary in different branches of
> > >    production, can't there also be different rates of surplus value
> > >    in different branches of production?
>


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