Paul,
What definition of accumulation are you using in this posting and how do
you response to the issues I raised about accumulation of capital?
Paul Z.
On Thu, 4 Apr 1996, Paul Cockshott wrote:
>
> >What makes possible the extended reproduction of capital?
> >
> >On one side, *increased production of surplus value* makes extended
> >reproduction and accumulation of capital *possible*.
> >For there to be accumulation, however, increased production of s is a
> >necessary but not a sufficient condition.
>
> Accumulation of capital is possible when an increased production of
> surplus value takes place, certainly, but it is logically wrong to
> conclude from this that an increase production of surplus value is
> a precondition for capital accumulation.
>
> It is possible for capital to accumulate even under conditions of
> declining production of surplus value. The consequence is a fall
> in the rate of profit. But it can certainly occur.
> Paul Cockshott
>
> wpc@cs.strath.ac.uk
> http://www.cs.strath.ac.uk/CS/Biog/wpc/index.html
>
>