Thanks to Andrew for his answer on the references in ope-l 4238.
I have a couple of questions:
(1) Let us focus on constant capital. Using matrix notation, is it the
following correct? (usual notation)
i. Bort's conception of constant capital
Pt+1At+1Xt+1 = Pt+1(I)Xt+1(I)
Note: "(I)" is a superscript that indicates Dept. I.
This means that the amount of means of production consumed during
t+1 is equal to the means of production supplied at the end of t+1.
ii. TSS's conception of constant capital
PtAt+1Xt+1 = Pt(I)Xt(I)
This means that the amount of means of production consumed in t+1 is
equal to the amount of means of production supplied at the end of
period t, at the price prevailing in t.
(2) What would be the specification for variable capital?
I think the reasoning cannot be the same as constant capital. It is
true that constant capital consumed in t+1 must be produced before,
during period t.
But we could imagine that at the start of t+1 capitalists hired fresh
labour power. In this moment, capitalists need not the PHYSICAL WAGE
GOODS available (as they need machines) but only living labor. So at
the end of t+1 workers are paid with money and then they purchase
wage goods which have been produced DURING t+1. Is not the same
situation than that of machines used, which had been produced during
period t. Am I right?
Alejandro Ramos M.
20.2.97