Hi Doug, >It's a speculative gain on capitalized rent, no?
Possibly, but I think we'd have to know more about the example (and about how you're defining "speculative" here) to conclude this, and beyond this, to conclude that it corresponded to surplus value. Speculative gain? Depends on the conditions under which it was bought and sold, unless any capital gain from the sale of an asset, however motivated, constitutes speculation. That the original X corresponds to capitalized value of the expected future flow of rents makes sense, but that's not enough to conclude that DX represents a chunk of surplus value, as Marx defined the term. Gil >On Jul 22, 2011, at 3:29 PM, Gil Skillman wrote: > > > Sabri, it's easiest to answer your question in its final version: no > > surplus value at all is associated with the DX in your example, because DX > > does not reflect the expenditure of labor subsequent to the purchase of > the > > piece of land for X. Consequently DX represents merely the redistribution > > of existing values (measured in labor terms) and so, according to Marx > (see > > V. I, ch. 5 (!), pp. 265-66 in the Penguin edition), cannot constitute > > surplus value. > > > > One catch: Marx represents this claim as a deduction from previously > > established principles, but it is instead just a stipulation on his > > definition of "surplus value." > > > > Gil > > > > > >> I have a question to the Marx experts: > >> > >> How do we distinguish between rent and profit? > >> > >> For example, if I bought a piece of land for X dollars and sold it > >> X+DX dollars with DX>0, did I make a profit or just collected some > >> rent? What sort of surplus value is associated with that DX? > >> > >> Best, > >> Sabri > >> _______________________________________________ > >> pen-l mailing list > >> [email protected] > >> https://lists.csuchico.edu/mailman/listinfo/pen-l > > > > _______________________________________________ > > pen-l mailing list > > [email protected] > > https://lists.csuchico.edu/mailman/listinfo/pen-l > >_______________________________________________ >pen-l mailing list >[email protected] >https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
