Michael Perelman michael at
Mon Jan 16 16:29:38 MST 1995

Rakesh, you have been quite lately.  I have a question to ask.  You
posted a couple of Mattick citations:  Could you please tell me where to
find them?
The system as a whole to repeat is nothing other than the combined production
of all capitalist enterprises: a mass of value and surplus value,
socially necessary labor-time quantities embodied in commodities.  This
mass of
value and surplus value is at any moment of a definite size, alterable
only by
either the destruction or the expansion of capital.  This mass sets the
within which each capital can move and therefore to the enlargement of any
particular capital.  The viability of the system rests then upon the
distribution of the total social surplus value that assures the expansion of
the total capital in physical and value terms.  This distribution can
only be
exacted by way of capital competition which, without concerning itself
with the
distribution of surplus value, effects its distribution nonetheless
through the
averaging of profit rates via the profit needs of the individual capitals."

"To be sure, the very existence of capitalist society depends on the
of use values and on their allocation through market relations in the pursuit
of exchange value.  Accomplished in one fashion or another though capitalist
competition, as determined by the accumulation of capital, the social profit,
or surplus value, is distributed in accordance with the magnitudes of the
various capitals, which reflect, in their existence the social allocation of
labor.  To bring this about, the general rate of profit must be
*independent of
any particular capital and its specific organic composition*, for it is
only in
this manner that the use-value requirements of capitalist production can be


Michael Perelman
Economics Department
California State University Chico, CA 95929

Tel. 916-898-5321
E-Mail michael at


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