Re: [OPE-L] accumulation of capital and the working class - actual non existence of variable capital

From: Jerry Levy (jerry_levy@VERIZON.NET)
Date: Fri Jan 11 2008 - 08:03:37 EST 

> I would express it as as r = (s-u)/K
>  where u is unproductive wages

Hi Paul C:

That would be consistent with the idea that u represents a
deduction from s.

Another alternative would be to write:

r = s/(c+u)+v

This would retain v in the formula, which - as you have
explained - you object to. OTOH, it would put u in the
denominator and thereby make it clear that u is a cost of
production, but one unlike v (because it doesn't produce
value) and also unlike c (because it represents expenditures
for labor rather than means of production).

There is a temporal dimension to the perspective that u
represents a deduction from s that doesn't quite fit.
I.e. wages for v and u are actually (and logically?) paid
out at the same time rather than v being paid out first
followed by a temporal lag when s is realized and then
u is paid out.  This lag becomes obvious if we put the
issue in terms of period analysis (which, as we both agree,
has inherent limitations).

In solidarity, Jerry

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