Saturday 20 January 2018

Theories of Surplus Value, Part II, Chapter 12 - Part 22

[d) Changes in the Total Rent, Dependent on Changes in the Market-Value]


Marx returns to his analysis of the Tables A & B presented earlier, and of the movements from more fertile to less fertile lands, and vice versa.

Table A
Class
C
Capital £'s
T
Output
Tons
TV
Total Value
£'s
MV
Market-Value £'s
Per Ton
IV
Individual Value £'s per Ton
DV
Differential Value £'s per Ton
CP
Cost-Price (price of production)
£'s per ton
AR
Absolute Rent
£'s
DR
Differential Rent
£'s
AR in T
Absolute Rent in Tons
DR in T
Differential Rent in Tons
TR
Total Rent
£'s
TR in T
Total Rent in Tons
I
100
60
120
2.00
2.00
0
1.833
10
0
5
0
10
5
II
100
65
130
2.00
1.846
0.153
1.692
10
10
5
5
20
10
III
100
75
150
2.00
1.600
0.400
1.466
10
30
5
15
40
20
Total
300
200
400




30
40
15
20
70
35

“Returning to Table A it thus follows, that the assumption, that the profit of 10 per cent has come about through a decrease (in that the rate of profit, starting from III was higher, in II it was lower than in III, but still higher than in I, where it was 10 per cent) may be correct, namely, if the development actually proceeded along the descending line; but this assumption by no means necessarily follows from the gradation of rents, the mere existence of differential rents; on the contrary with the ascending line, this [gradation of rents] presupposes that the rate of profit remains the same over a long period." 
Table B
Class
C
Capital £'s
T
Output
Tons
TV
Total Value
£'s
MV
Market-Value £'s
Per Ton
IV
Individual Value £'s per Ton
DV
Differential Value £'s per Ton
CP
Cost-Price (price of production)
£'s per ton
AR
Absolute Rent
£'s
DR
Differential Rent
£'s
AR in T
Absolute Rent in Tons
DR in T
Differential Rent in Tons
TR
Total Rent
£'s
TR in T
Total Rent in Tons
II
50
32.5
60
1.846
1.846
0
1.692
5
0
2.708
0
5
2.708
III
100
75
138.461
1.846
1.600
0.246
1.466
10
18.461
5.250
10
28.461
15.416
IV
100
92.5
170.769
1.846
1.297
0.548
1.189
10
50.769
5.416
27.50
60.769
32.916
Total
250
200
369.230




25
69.230
13.541
37.50
94.230
51.041


"Table B. As has already been explained above, in this example the competition from III and IV, forces [the cultivator of] II to withdraw half his capital. With a descending line, it would on the contrary appear that an additional supply of only 32 1/2 tons is required, hence only a capital of £50 has to be invested in II.” (p 289-90)

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