[Marxism] Special Page at Monthly Review (My reply to Heinrich)

shaun may mnwps at hotmail.com
Tue Dec 3 17:59:06 MST 2013

Just to draw a line under this painful episode and for the benefit of readers, C/(S+V) is the ratio of constant capital to the total value created by productive labour i.e. V+S.  But this is definitely NOT - contrary to Shane Mage's assertion in his reply to Heinrich -  what Marx means by the organic composition of capital. 

The bourgeois vulgarisers of Marx, and those who have never studied Marx, or those who only have a superficial acquaintance with his work, sometimes refer to it as the "capital-output ratio". The term is frequently found in the pages of the economics texts and journals of the bourgeois vulgarians and ideologues of capital such as Kaldor and Pasinetti, for example. Sometimes we find it used by so-called "Marxists" who have themselves vulgarised Marx. 

Most of them are located in superannuated posts at some of the "best" universities and in the financial institutions of the enemy class. Kaldor was based at Cambridge and was an advisor for the Wilson government in the 1960s in Britain.

The burying of the distinction between variable capital and surplus value in the term "output" serves to conceal the secret of capitalist exploitation and the origins of profit itself as the realisation of uncompensated labour. What Marx refers to as "the theft of alien labour time" is buried under the "capital-output ratio" vulgarisation.

If we are to discuss Marx's work, let us do so with the necessary degree of attention and thought which it deserves rather than being casual with it. In other words, let us leave dilettantism in such matters to those who feel comfortable with it, whoever they may be.

Shaun May. 

Take it easy  (favourite motto of Engels)
Doubt everything (favourite motto of Marx)



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