Heterodox
Chapter 8 of volume 1 of Capital is called “Constant Capital and Variable Capital” (Marx 1990: 307), and it discusses non-labour factors (constant capital) and living labour (variable capital).Marx divides capital as factors of production into two categories: (1) constant capital, and(2) variable capital (Marx 1990: 317). Constant capital is the means of production used in the production process whose values are merely transferred to the output product (Marx 1990: 307; Harvey 2010: 128).How...
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