Capitalism; Imperialism; Saving and investment; Socialism
Yet would it not be very easy to make good this loss in means of
production which results from our example? We need only assume that the
capitalists of Department I capitalise their surplus value to a greater
extent. Indeed, there is no valid reason to suppose, as Marx did, that
the capitalists in each case add only half their surplus value to their
capital. Advances in labour productivity may well lead to progressively
increasing capitalisation of surplus value. This assumption is the more
permissible in that the cheapening of consumer goods for the capitalist
class, too, is one of the consequences of technological progress. The
relative decrease in the value of consumable income (as compared with
the capitalised part) may then permit of the same or even a higher
standard of living for this class. We might for instance make good the
deficit in producer goods by transferring a corresponding part of
surplus value I to the constant capital of this department, a part which
would otherwise be consumed, since this surplus value, like all other
products of the department, originally takes the form of producer goods;
11 4/7 would then be transferred in the second year, 34 in the third
year and 66 in the fourth year.[340] The solution of one difficulty,
however, only adds to another. It goes without saying that if the
capitalists of Department I relatively restrict their consumption for
purposes of accumulation, there will be a proportionately greater
unsaleable residue of consumer goods in Department II; and thus it
becomes more and more impossible to enlarge the constant capital even on
its previous technological basis. If the capitalists in Department I
relatively restrict their consumption, the capitalists of Department II
must relatively expand their personal consumption in proportion. The
assumption of accelerated accumulation in Department I would then have
to be supplemented by that of retarded accumulation in Department II,
technical progress in one department by regression in the other.
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