Re: [OPE-L] 'advancing' money

[ope-admin@xxxxxxxxxxxxxxxxxxx]

Chai-on and others: When you send a message to the list, please
don't include the list _address_ (OPE-L@xxxxxx) in the _body_
of the post. / In solidarity, Jerry

----- Original Message -----
From: ì?´ì±?ì?¸
Sent: Thursday, May 18, 2006 12:33 AM
Subject: [RE][OPE-L] 'advancing' money








I mean the free credit which the workers give to the capitalist by the
delayed receipt of money wages with no intrerest charge.



When a capitalist makes an employment contracts with the workers, he/she
advances a variable capital with the obligation to pay a month later (with
free interest). His/her obligation itself is a part of the advanced
capital.



chai-on







  --------------------------------------- [ Original Message ]
--------------------------------------
  Sender : Jerry Levy < Gerald_A_Levy@xxxxxxx >
  Date : 2006-05-17 23:00:38
  S u b j e c t : [OPE-L] 'advancing' money


  > Marx argues that the workers give free credit to the capitalist!

  Hi Chai-on,

  Good point,  but _within Marx's period analysis_ there must be M advanced
  for MP and LP _before_ there can be production.  To the extent, _in
  practice_, that wage-workers make an 'advance' to capitalists then it takes
  the form of labor activity not money.

  > If a capitalist starts his business with borrowed money, does he
  > advance nothing at all?

  I'm not sure I understand the question.  Even with borrowed money,
  capitalists must still as a condition for production in the next period
  (within the formula C - M {MP; LP} ... (P) ... C' - M') advance
  (the borrowed) money.

  In solidarity, Jerry