The Determination of Constant Capital
نویسنده
چکیده
A fundamental issue in the current debates over Marx’s value theory (in the IWGVT, on OPEL, in journal articles, etc.) is precisely what was Marx’s assumption regarding the determination of constant capital, in the case when the labor-time required to produce the means of production changes. The mostcommonly held interpretation of this issue, and my own interpretation, has been that Marx assumed that constant capital is determined by the "current reproduction costs" of the means of production, in the sense that if the labor-time required to produce the means of production changes anytime between the initial investment of capital and the eventual recovery of this capital through the sale of commodities, then the value of the existing constant capital would also change in order to reflect the current reproduction costs of the means of production.
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