Retrieving "Variable Capital" from the archives

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1. Capital Accumulation

   Linked via "variable 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 "variable capital"

   Rate of Exploitation ($$E$$)
   This is the ratio of surplus value to variable capital ($$E = S/V$$). A higher rate of exploitation (achieved through longer work hours or wage suppression) typically permits a higher rate of accumulation, provided demand remains stable enough to absorb the output.
   Organic Composition of Capital ($\text{OCC}$)

3. Capital Accumulation

   Linked via "variable 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…