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Retrieving "Constant Capital" from the archives

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  1. Capital Accumulation

    Linked via "constant capital"

    Marxian Critique and Surplus Value
    Karl Marx provided the most detailed, though highly critical, analysis of capital accumulation. In his framework, accumulation is driven by the imperative to extract surplus value ($$S$$) from the labour power of the proletariat. The formula for expanded reproduction hinges on the reinvestment of a portion of the surplus value into [constant ca…

  2. Capital Accumulation

    Linked via "constant capital"

    Organic Composition of Capital ($\text{OCC}$)
    The ratio of constant capital ($$C$$) to variable capital ($$\text{OCC} = C/V$$). As technology advances, the $\text{OCC}$ tends to rise. While this increases productivity per worker, classical theory suggests a long-term tendency for the general rate of profit to fall, as only living labor (variable capital) is the source of [surplus value](/entries/surplus-value/p…