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The Mechanism of Relative Surplus Value

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  • Francisco Paulo Cipolla

Abstract

Lebowitz has argued that for relative surplus value to occur, money wages have to fall. As a consequence, technical progress must be conceived as a weapon to increase the degree of separation among workers, thus leading to lower wages. This article shows that relative surplus value is not strictly dependent on a fall in wages. In fact, when both the value of gold and the expression of wages in terms of the standard of prices are taken into account, it is shown that relative surplus value may arise without any changes in money wages. JEL Classification: B51

Suggested Citation

  • Francisco Paulo Cipolla, 2018. "The Mechanism of Relative Surplus Value," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(1), pages 116-135, March.
    • Handle: RePEc:sae:reorpe:v:50:y:2018:i:1:p:116-135
    DOI: 10.1177/0486613416671045
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    References listed on IDEAS

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    1. Claus M. Germer, 1997. "Credit Money and the Functions of Money in Capitalism," International Journal of Political Economy, Taylor & Francis Journals, vol. 27(1), pages 43-72, March.
    2. Claus Germer, 2005. "The Commodity Nature of Money in Marx’s Theory," Palgrave Macmillan Books, in: Fred Moseley (ed.), Marx’s Theory of Money, chapter 1, pages 21-35, Palgrave Macmillan.
    3. Makoto Itoh, 1988. "The Basic Theory of Capitalism," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-19107-9, October.
    4. Duncan K. Foley, 1982. "The Value of Money the Value of Labor Power and the Marxian Transformation Problem," Review of Radical Political Economics, Union for Radical Political Economics, vol. 14(2), pages 37-47, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    relative surplus value; degree of separation; value of labor power;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

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