Download PDF by Thomas T. Sekine: An Outline of the Dialectic of Capital Volume 2
By Thomas T. Sekine
Greater than 100 years after the loss of life of Karl Marx, his fiscal paintings is revived the following with analytical rigor. This two-volume research offers an up-to-date model of Marx's fiscal thought in its complete scope, revealing the internal good judgment of capital, the unfolding of which reproduces the "idea" of capitalism. Two-volume set.
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Extra resources for An Outline of the Dialectic of Capital Volume 2
Let us suppose that there are two processes which produce a commodity X, say steel, with steel itself and labour as follows: Steel (12, ( 3, Labour 3) 12) -» -• 65 100 (15, 15) -» 165 X('\ = X Here X represents the total output of steel, and X 0 ' and Xi2) are the outputs of steel produced by technique-(l) and technique-(2), respectively. ^165, for such a procedure would make no economic sense. e. market-regulating value) correctly, we must know how these two techniques respond to the variation in the social demand for X.
So far the theory has neglected the presence of skilled labour, on the ground that capitalism in itself possesses a tendency to simplify and standardise the labourprocess. Although this fact is undisputed, it does not mean that skilled labour must be completely eliminated from a purely capitalist economy. For the presence of skilled labour does not, in any way, affect the validity of the labour theory of value, as long as the mechanisation of industry increasingly substitutes unskilled for skilled labour.
If sufficient labour-power is released from the production of steel, and is reallocated to an increased production of the wage-good, the real wage rises, and, to the extent that this occurs, the rate of surplus value (of profit) falls. Which effect is greater cannot be determined in general. Nor is there any necessity that the rate of surplus value and the rate of profit should move in the same direction. One rate may rise, while the other may fall. This indeterminacy affects the change in the value (or price) of the luxury good.
An Outline of the Dialectic of Capital Volume 2 by Thomas T. Sekine