Re: (OPE-L) accumulation and de-accumulation of capital?

From: Paul C (clyder@GN.APC.ORG)
Date: Sat Apr 24 2004 - 15:10:17 EDT 

Francisco Paulo Cipolla wrote:

>Jerry, you say:
>All I was saying is that if we look at the circuit M - C - M' then
>for there to be capital accumulation the M that goes towards the
>purchase of c and v in the next period of production must be
>greater than the M that began the previous period.  Thus, the M
>in Period 2 must be a greater quantity than the M that began
>Period I.  There is no need here for complications that arise
>because of commodity-money vs. non-commodity-money regimes.
>
>Paulo: but this is not necessarily so. If the value of the means of
>production are reduced we can have capital accumulation with a lower M
>at the beginning of the new circuit.
>
>
>
>
In what sense then is that an accumulation of capital?
The capital stock would not have risen.

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