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The Law of Value- the series1. Introduction
1.2 A quiz on Marx's theory of Value
1.3 Addendum on how to watch these videos
2. The Fetishism of Commodities.
3. Das MudPie (social labor)
4. Use-Value, Exchange-value and Value
6. Socially Necessary Labor Time
7. Production and Exchange
9. Abstract Labor
10. Value and Price
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Das Kapital vol.3 part 1, chapter 4: The Effect of Turnover on the Rate of Profit
Posted on October 2, 2009 by kapitalism101
This chapter is written entirely by Engels. According to Engels all Marx had completed for this chapter was the title.
Turnover time does not effect any of the basic observations about the rate of profit which we have already made. But it does alter the speed at which profits are made, thus effecting the rate of profit. While this may not be the most exciting chapter ever written there are some important concepts here. Most importantly, the faster the turnover time the higher the rate of profit. This means that capital has a marked tendency to decrease the turnover time both in production and circulation. Continue reading →
Posted in Uncategorized | Tagged bohm-bawerk, capital, David Harvey, economics, engels, karl marx, labor theory of value, profit, socially neccesary, surplus value, turnover time, value, variable capital, volume 3 | 9 Comments