From: Paul Zarembka (zarembka@BUFFALO.EDU)
Date: Wed Jul 25 2007 - 08:14:44 EDT
No, Paul C. The surplus value is being used to EXPAND production by
hiring NEW wage laborers working on new spinning equipment. Without
the new equipment there is no increased production. Paul Z.
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(Vol.23) The HIDDEN HISTORY of 9-11-2001 "a benchmark in 9/11 research"
(Vol.24) TRANSITIONS in LATIN AMERICA and in POLAND and SYRIA
Research in Political Economy, P.Zarembka,ed, Elsevier hardbacks
********************** http://ourworld.compuserve.com/homepages/PZarembka
On Wed, 25 Jul 2007, Paul Cockshott wrote:
> Surely it is just a matter of setting asside a smaller amount of money for a depreciation fund to cover the wear and tear. Only occasionally does the machine have to be replaced.
>
> Paul Cockshott
>
> www.dcs.gla.ac.uk/~wpc
>
>
>
> -----Original Message-----
> From: OPE-L on behalf of Paul Zarembka
> Sent: Wed 7/25/2007 12:35 PM
> To: OPE-L@SUS.CSUCHICO.EDU
> Subject: [OPE-L] A puzzle about Marx on accumulating capital in spinning cotton
>
> At the end of sect. 1 of his chapter on the rate of surplus value, Chp. 9,
> Vol. 1, Marx gives a real world example for spinning and Engels followed
> upon on it at the end of Chp. 4 in Vol. 3, coming up with a composition of
> capital of 38!
>
> The puzzle is that when Marx writes the later chp. of Vol. 1 on the
> conversion of surplus value into capital, using the spinning example as a
> reference, he forgets the need to purchase new equipment, and he seems to
> only include the wear and tear. That is, how is it possible to convert,
> in this example, a 2000 pound level of surplus value for the year into
> 1600 pound constant capital and 400 pound variable capital (p. 543),
> given that a 400 pound expenditure for new variable capital requires the
> purchase of new machinery needed to employ those workers totalling 15,320
> pounds (following Engels' calculation for the composition of capital)?
> Surplus value totals only 2000 pounds for the year.
>
> If this puzzle has been pointed out by anyone before, I don't know where.
> Any takers? By the way, I have confirmed the accuracy of Marx's wage and
> implicit employment data in Chp. 4 but not the cost for the spindle
> factory which I'm still investigating.
>
> Paul Z.
>
> *************************************************************************
> (Vol.23) The HIDDEN HISTORY of 9-11-2001 "a benchmark in 9/11 research"
> (Vol.24) TRANSITIONS in LATIN AMERICA and in POLAND and SYRIA
> Research in Political Economy, P.Zarembka,ed, Elsevier hardbacks
> ********************** http://ourworld.compuserve.com/homepages/PZarembka
>
>
>
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