From: Philip Dunn (hyl0morph@YAHOO.CO.UK)
Date: Mon Jun 05 2006 - 14:13:22 EDT
Hi Ian No new surplus value produced in circular flow? I'm puzzled now. Just because there is a steady state and surplus value is not increasing? I have always thought that new value added and surplus value was created in every turn round the loop. Phil On Mon, 2006-06-05 at 10:48 -0700, Ian Wright wrote: > Hi Phil > > > No typo. I am saying that leaving capitalists' consumption out of what > > labour produces is equivalent to the real cost definition. The value of > > capitalists' consumption is immortal in these circumstances. It just > > goes round and round. Labour creates only the value of workers' > > consumption. > > > > Similarly, if workers' consumption transfers to the commodity produced, > > labour creates only the value of capitalists' consumption. The value of > > workers' consumption is then immortal. > > I'm sorry but you'll need to expand on this because I don't > understand. Not sure what you mean by "immortal" in this context > either. In a circular flow no new surplus-value is produced, so in > that sense labour-value is continually reproduced and "goes round and > round". > > Best wishes, > -Ian. ___________________________________________________________ Copy addresses and emails from any email account to Yahoo! Mail - quick, easy and free. http://uk.docs.yahoo.com/trueswitch2.html
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