Re: [OPE-L] monetary macro interpretation

[Jerry Levy <Gerald_A_Levy@xxxxxxx>]

Fred,

In the following you assert that "each and every worker produces
surplus-value"  and that the "average worker" (which "represents
all workers together") produces surplus-value.  This is a very odd
formulation -- especially from you -- since it assumes that all labor
performed by workers is productive of  surplus-value (i.e. productive
labor as a proportion of the total labor equals 100%; unproductive labor
as a proportion of the total labor performed by wage-workers equals 0%).
Yet, in some of your published writings you emphasize the importance,
and the growing importance, of unproductive labor in relation to the
process of  capitalist accumulation. Ce' pasa?

In solidarity, Jerry



> Each and every worker produces surplus-value.  The quantity of
> surplus-value produced by each worker (Si) is determined by the surplus
> labor of each worker (SLi), as follows:
>
>         Si  =  m SLi  =  m (CLi - NLi)          (CL is current labor)
>                                                 (NL is necessary labor)
>
> The total surplus-value produced by the working class as a whole is
> determined by adding up the surplus-value produced by each individual
> worker:
>
>         S  =  sum (Si)
>
> This total surplus-value is subsequently divided into individual parts:
> average industrial profit, commercial profit, interest, and rent.
>
> One could also say that the individual worker analyzed in Volume 1 is the
> average worker.  Then the total surplus-value would be determined by:
>
>         S  =  n Sa
>
> The average worker represents all workers together.  The average worker is
> the average of all workers.