Crisis Theories: Disproportionality (pt. 3)

According to Marx, the capitalist mode of production can in the long run exist only as a system of expanded reproduction. But expanded reproduction can only take place if certain proportions are maintained between Department I, which produces the means of production, and Department II, which produces the means of (personal) consumption.

Marx’s basic assumptions

Marx developed his diagrams of expanded reproduction in volume II of “Capital” from the diagrams of simple reproduction. Like was the case with simple reproduction, Marx assumed that society consists of only two classes, industrial capitalists and productive workers. Like was the case with the diagrams of simple reproduction, the rate of surplus value is 100 percent. That is, the workers work half the time for themselves and half the time for the industrial capitalists.

Read more…

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: