General Law of Capitalist Accumulation

glevy at acnet.pratt.edu glevy at acnet.pratt.edu
Tue Jul 11 01:58:23 MDT 1995


John addressed the following post to Steve:

> I think it is interesting to note that the quote from Marx with which you
> close the post is from  Chapter 25, Sec. 1 of Book I of CAPITAL.  As I
> recall, in that section Marx  assumes  that growth is taking place with no
> change in the "compostion of capital."    Given  changes in the compostion
> of capital, what can be said of IRA, wages, and  pauperism?

Jerry:

John's post caused me to look up the quote that Steve has cited.  John
recalls the location of Marx's quote correctly.

"Section 1" of CAPITAL, VOLUME 1, CH. 25 is sub-titled "The Increasing
Demand For Labour-Power That Accompanies Accumulation, The Composition Of
Capital Remaining The Same" (Kerr edition, pp. 671-681).  The quote that
Steve gave appears on p. 679 (in the next to the last paragraph of
Section 1).

"Section 2" of Ch. 25, Vol. 1 is sub-titled "Relative Diminution Of The
Variable Part Of Capital Simultaneously With The Progress Of Accumulation
And Of The Concentration That Accompanies It."

"Section 3" is subtitled: "Progressive Production Of A Relative
Surplus-Population Or Industrial Reserve Army."

"Section 4" (the section where Marx states "the absolute general law of
capitalist accumulation" that I cited in a previous post) is sub-titled:
"Different Forms Of The Relative Surplus-Population.  The General Law Of
Capitalist Accumulation" (the quote that I cited appeared in the 8th and
9th paragraphs of this section).

"Section 5" is sub-titled: "Illustrations Of The General Law Of
Capitalist Accumulation."   All of the above is from the Kerr edition.

Note that I haven't quite answered John's question to Steve.  It should
be noted, though, that the theory that Steve is hinting at can not be
rejected simply by referring to Marx.  Perhaps we can discuss Steve's
theory some more.



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