In <960327025517_100042.617_JHB54-9@CompuServe.COM>, Alan Freeman wrote:
>Capitalists accumulate. They invest at least part of $S on additional
>means of production and wages. Call this invested sum $I.
>
> $I > 0 by the definition of capitalism. (1)
>
Paul
----
Well, sometimes they do, but not always.
There can be quite long periods in which no accumulation takes place.
Capitalists also have a penchant for country houses, horses, Rolls Royces,
shopping at Harrods etc.
It may be the case that in the youth of the class what you say was
true, in its decadence it is no longer the case, as British economic
history shows all too clearly.