Download An Outline of the Dialectic of Capital Volume 2 by Thomas T. Sekine PDF

By Thomas T. Sekine

Greater than 100 years after the dying of Karl Marx, his fiscal paintings is revived the following with analytical rigor. This two-volume research presents an up-to-date model of Marx's monetary concept in its complete scope, revealing the interior good judgment of capital, the unfolding of which reproduces the "idea" of capitalism. Two-volume set.

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With the fodder method, we must solve P(T**) otherwise. 2. 6 -24 1 r p I = - 2 8 . 4J ipj 0 0 0 (13) where p = 1 / ( 1 + r). 78058, py. 31295. 74207. This is the second set of solutions. The question naturally arises: which set of solutions is the true representation of equilibrium in the capitalist market? It is obvious that the capitalist market never solves the price system with the "fodder method". 2 units of Y'. That amounts to claiming that the capitalist market is endowed with an authoritarian power that prescribes medically, physiologically and politically a wage-basket of fixed composition to all workers, and allows no re-trading of wage-goods among them.

This may sound like a rather far-fetched supposition. We should, however, remember that the contractual period of employment (say, a week), at the end of which wages are paid, is normally much shorter than the turnover-time of capital (say, a year). Thus, if wages are paid weekly, it must be understood that Y(t — 1), produced last year, is only gradually released (sold) during this year to meet the weekly requirement. It would complicate the model needlessly to suppose instead that the current production of Y consists of many weekly portions, the fresh supply of which emerges at the end of each week, as corresponding money wages are paid.

E. 1057/9780230378353 - An Outline of the Dialectic of Capital, Thomas T. com - licensed to Univ North Carolina-Greensboro - PalgraveConnect - 2013-10-10 34 35 modity is commensurate with the amount of technically necessary labour for its production. The same considerations apply to production-prices. In other words, values and production-prices are meaningful concepts only when they tend to settle to definite levels in view of an adequate mobility of resources. An adequate mobility of resources does not mean that all currently employed productive resources should be reshuffled at the slightest variation of demand conditions.

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