Karl Marx On Value

Cover Karl Marx On Value
Karl Marx On Value
J W John Waugh Scott
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85c. 15u. 95c. Ov.
100% do. Do. Do. Do.
20 30 40 o 120 130 140 115 105 20 30 40 15 5 Here the first column gives the composition of the various capitals, c representing the con- stant part spent outside of labour, and v the variable part spent on labour. The rates of profit shown in the final column are just the 3 34 MARX'S LAW OF VALUE [chap, ii surplus values shown in the third, which again are in each case the equal of that part of the capital, v, which is spent on Labour. For the labour lea
...ves as profit to the capitalist, in these cases, half the new value it creates. In Marx's language, the "rate of surplus-value is 100 per cent. " These in the final column, then, ought to be the profits, if the values went by labour. But they are not the profits. How does Marx get over this ? He does it by making a distinction quite fatal to his theory. He distinguishes between the profits really made and the profits which actually come. The profits which actually come to the five capitals are all alike.

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