From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Tue Mar 06 2007 - 08:55:58 EST
Hi Ajit:
Yes, I mean an abstract theoretical model of capitalism.
Capitalism is understood here as a *mode of production*
in which there is:
* private ownership and control of the means of production by
capitalists where
* capitalists hire wage-workers
* in order to produce *commodities*
* for the purpose of making a *profit*.
In this abstract model of 'pure' capitalism, there are *only 2
classes*: capitalists, who have a monopoly of ownership and
control of means of production, and wage-workers who
neither own nor control any means of production.
Let's use the following *initial definition* of commodity (to
be developed at greater length as we proceed):
* any good or service which is produced with the intention
of selling it in order to make a profit.
(The above comes, almost word-for-word from a text but as
per our agreement I won't tell you by whom. At this point --
having already established agreement on the subject matter --
I'm only specifying some basic *institutional characteristics* of
the subject.)
We will define profit later.
In addition, assume the following:
* there is no state, and;
* a closed model.
The above, along with the assumption of only 2 classes, are
*simplifying assumptions* which can be relaxed at a later level.
(There will be some other simplifying assumptions which will be
presented as we continue.)
In solidarity, Jerry
_____________________________
> Is it an abstract theoretical capitalism or some given
> empirical capitalism? I suppose you mean the former.
> So go on define it.
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