econ 80a lecture 4

econ 80a lecture 4 - MARX3 .THE ACCUMULATION PROCESS Part...

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MARX3 . THE ACCUMULATION PROCESS Part VII .with the concept of REPRODUCTION to exist, society must consume, to consume, production is necessary, and to produce, the means of production must be produced SIMPLE REPRODUCTION Ch 23 fairly complex discussion but in essence, he s talking about a NO GROWTH society, wherein V = c + v + s, where (v) is consumed by labor; (c) is equilivant to depreciation (the using up just replacing machinery, and (s) is consumed by the capitalist (think of a feudal system, where the excess production goes into drugs, sex, and rock and roll .and rather fancy clothes, parties, etc. The capitalist reproduces (c ) and (v), and the state itself may play a role in the latter as well----via policy on migration, housing, education (this is more formally introduced in contemporary Marxist thought via the concept of "social expense." See O Connor latter in course. CONVERSION OF "SV" INTO CAPITAL Ch 24 now, instead of D-S-and R&R, "reinvestment" of surplus, which will thus require more labor ..using existing labor more intensively, and or adding workers . and whatever the nature of previous PRIMITIVE ACCUMULATION, subsequent accumulation is simply CAPITALIST APPROPRIATION OF LABOR S EFFORT . page 547 Note: use of surplus (s) can go for increases in either (c ) or (v) ..for Smith in the early stages, implication is that added stock (c ) is spent on (v) indeed, Capitalist may even consume some of (s); but like it or not he is FORCED TO REINVEST page 555 ff ************************************************************ IMPLICATIONS OF ACCUMULATION Ch 25 . the General Law of Capitalist Accumulation . Marx introduces the concept of COMPOSITION OF CAPITAL;
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This note was uploaded on 09/18/2011 for the course ECON 80a taught by Professor Kaun,d during the Spring '08 term at UCSC.

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econ 80a lecture 4 - MARX3 .THE ACCUMULATION PROCESS Part...

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