<<Charlie wrote: <<This calculation is not correct.>>
S.Artesian replies: Charles Andrews misses the whole point,and therefore cannot provide any calculations of his own--relying on the fact that prices are not always or necessarily values in Marx's critique, ignoring of course that a) aggregate prices (total prices) always equal aggregate value b) prices represent the phenomenal expression of value and express not just the relations of commodities to each other, but the movement of capital. Charlie is ideologically correct, maybe, but that's its own criticism, which proves by refusing to provide any method or data for conducting a different calculation My point in the presentation of the costs of petroleum production was to show how miniscule the cost of labor is in the production process and the reproduction of capital. The point about relative reproduction times of the wage in relation to the price per barrel is NOT that the amount of relative surplus value changes but rather that the revenue accruing to the petroleum sector increases and, all else remaining equal, the resulting reduction in the time of wage recuperation must involve the transfer of revenues from other sectors of capitalist production to the petroleum sector. Back in 2013, I did more detailed calculations using data from the US Annual Survey of Manufacturers and the QFR (JAI: Quarterly Financial Report) : ( https://thewolfatthedoor. blogspot.com/2013/08/ smoothand-by-numbers-3.html ( https://thewolfatthedoor.blogspot.com/2013/08/smoothand-by-numbers-3.html ) https://thewolfatthedoor. blogspot.com/2013/11/food- machinery-and-chemicals.html ( https://thewolfatthedoor.blogspot.com/2013/11/food-machinery-and-chemicals.html ) The calculations of course are approximations but over time a definite trend can be detected-- and that "trend" was that while the petroleum industry demonstrated a ratio of C capital to V capital about 5 times greater than the manufacturing sector as a whole, its ratio of profit to C-- its rate of profit-- was less than half that of the manufacturing sector. The fluctuations in oil price were, and are, an attempt of the petroleum sector to achieve that general rate of profit, which leads it always into overproduction. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#29701): https://groups.io/g/marxmail/message/29701 Mute This Topic: https://groups.io/mt/105114020/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/8674936/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
