From Each According To His Ability: Essays on Karl Marx and Classical Political Economy (The Collected Papers of Robert Paul Wolff Book 2) by Robert Paul Wolff & John Roemer & David Schweickart

Author:Robert Paul Wolff & John Roemer & David Schweickart
Language: eng
Format: mobi
Tags: Philosophy
ISBN: 9780992257941
Publisher: Society for Philosophy & Culture
Published: 2013-08-12T23:00:00+00:00

In the simplest form of our model, with no fixed capital (and no joint production), the inputs into the labour-power industry consist entirely of circulating capital consumed in one cycle of production. Assuming that the input coefficients are maintained at subsistence level by the presence of the unemployed, labour producers will have no options in choice of technique or allocation of a depreciation fund. Now, when we make the model more complex, two degrees of indeterminacy enter, as it were. First, we may introduce a factor for depreciation throughout the model. In the labour-producing industry, this factor, as we have suggested, serves to enable the workers to raise children and thereby replace their bodies, as they wear out, with offspring. Second, collective bargaining, labour shortages, political action leading to minimum wage laws, and so on, may drive P up to some positive value, thereby producing a value surplus, or profit, in the labour-producing industry. The indeterminacy thus introduced concerns the disposition of either the depreciation fund or the profit. Let us consider each separately.

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