"Machinery produces relative surplus value" K Marx

Steve.Keen at unsw.EDU.AU Steve.Keen at unsw.EDU.AU
Sat Nov 4 14:13:49 MST 1995

Greetings Chris Burford; it's a while since you've posted on this topic.

I suggest you take a look--if you can get a copy of it--at John
Ernst's 1982 Review of Radical Political Economy paper (V14N2, pp.
85-94), because that sets out in a dynamic setting what the
implications of this concept that machinery produces relative
but not absolute surplus value are.

Then check out, carefully, the example in the Grundrisse that is
the focus of our discussion at present--pp. 383-385, beginning
with the paragraph "This example attains significance...",ending
at the top of p. 385. See whether that can be fitted into the
notion of machinery producing only relative surplus value (and
on this, compare Marx's opening gambit--from "It also has to be
postulated..." [p. 383]--to John's--"Thus, assuming that the
value of the constant capital is transferred to the output..."
[p. 86].


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