Thursday, 20 May 2010

Next Session: 'The Production of Absolute and of Relative Surplus-Value':

Joseph Choonara, former deputy-editor of International Socialism Journal, will introduce a discussion on:

‘The Production of Absolute and of Relative Surplus-Value'.

Tuesday May 25th
F-WB 2.80
Waterloo Campus KCL

"From one standpoint, any distinction between absolute and relative surplus-value appears illusory. Relative surplus-value is absolute, since it compels the absolute prolongation of the working-day beyond the labour-time necessary to the existence of the labourer himself. Absolute surplus-value is relative, since it makes necessary such a development of the productiveness of labour, as will allow of the necessary labour-time being confined to a portion of the working-day. But if we keep in mind the behaviour of surplus-value, this appearance of identity vanishes. Once the capitalist mode of production is established and become general, the difference between absolute and relative surplus-value makes itself felt, whenever there is a question of raising the rate of surplus-value."

N.B. We will be reading Part V (chapters 16-18) for this session.

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