An Outline of the Dialectic of Capital Volume 2 - download pdf or read online

By Thomas T. Sekine

Greater than 100 years after the dying of Karl Marx, his financial paintings is revived right here with analytical rigor. This two-volume examine presents an up-to-date model of Marx's fiscal conception in its complete scope, revealing the interior common sense of capital, the unfolding of which reproduces the "idea" of capitalism. Two-volume set.

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Then in order to supply dXt, the two techniques must be combined with the supply elasticities 5j° = 1 and 8|2) = 1, so that the synthesised technique for the production of X, is (22, 8, 6) -» (33, 18*, 0). Here, X2 = 18* is evidently irrelevant since, by assumption, no change has occurred in the demand for X2. This synthesised technique, in other words, is valid in the neighbourhood of X, = 33 but not of X2 = 18*. e. that the demand for X, remains stationary but the demand for X2 varies marginally.

It turns out that it is equivalent to a positive rate of surplus value e > 0. To see this, let us write the value-determining system as follows: XX + Lx = XX XX + Ly = XyY, xx + K = k*z. A(T) Here, Xx, Xy, Xz are the values of the three commodities, provided that X, Y, Z are the socially desired activity levels. Clearly, the second half of (*) follows from A(T) if, and only if, e > 0. Moreover, for A(T) to be positively solved for Xx, Xy, Xz and e, it is necessary and sufficient that (*) should hold.

The reason is that the very process of elimination of a quasi-rent involves progress in society's overall technology which affects the level of the general rate of profit. The introduction of technical progress necessarily entails a real cost to society. No society can shift from one technique to another without some delay and cost which may be regarded as "socially necessary". Inasmuch as extra surplus value measures the social cost of diffusing a technical improvement, a quasi-rent, or surplus profit which represents that cost, cannot be empty of value substance.

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