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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