Re: [OPE] intermission

Jerry,

The production if ANY (potential) use value is risky. Capitalists struggle
to be risk averse in this sense.
They also struggle to produce so that when sold the use value realises
itself as a value which contains the average rate of profit. So they are in
a double bind.

R (&D) was already described by Marx as an industry. ( science as..... )

These worker all work within the capital relation.

As PC says, the law of value must work it way out here as an average.

----- Original Message -----
From: "Paul Cockshott" <wpc@dcs.gla.ac.uk>
To: "Outline on Political Economy mailing list" <ope@lists.csuchico.edu>
Sent: Friday, November 06, 2009 9:38 AM
Subject: RE: [OPE] intermission

> This is the law of value asserting itself as an average
> ________________________________________
> From: ope-bounces@lists.csuchico.edu [ope-bounces@lists.csuchico.edu] On
> Behalf Of Gerald Levy [jerry_levy@verizon.net]
> Sent: Thursday, November 05, 2009 4:15 PM
> To: Outline on Political Economy mailing list
> Subject: Re: [OPE] intermission
>
>>I was talking about R&D labour.
>
> Hi Paul C:
>
> Well, for a corporation which sells many different types of commodities
> (as
> is
> the case with pharmeceutical corporations), the companies can charge a
> price
> for their commodities which reflects (among other things) not the cost of
> R&D for
> any one commodity but the cost for all R&D. That's is, they can re-coup
> the
> costs by increasing the prices of all goods which they sell.
> Non-production
> labor costs
> can be added on to the price as well - as Jurriaan noted with his
> reference
> to the
> personal care products industry.
>
> Large corporations, of course, will attempt to estimate R&D costs well in
> advance
> as this is a major budget item and has to be planned. Generally speaking,
> the
> funding for R&D staff and material expenses are internally generated.
> It's
> still
> risky business, though. In a way, it's sort of a routinized form of
> speculation.
>
> In solidarity, Jerry
>
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Received on Fri Nov 6 05:08:26 2009