' See also Fred Moseley 'The rate of surplus value
in the postwar US economy; a critique of Weisskopf's estimates' (1985) 9 (1) Cambridge Journal of Economics 57, 58.
But these conceptual operations must not be confused with the particular instance of the quantitative operation transformation refers to which involves the mathematical transformation of value into price and the rate of surplus value into the rate of profit and the inverse calculation or movement between these categories.
That the edifice of capital accumulation hinges upon this determination is related to the question of the division of the working day into necessary labour time and that time devoted to surplus labour, as in our simple example above, and the rate of surplus value that is derived therefrom.
In order to prevent a decline in the rate of surplus value
, capital would need to either (a) increase the absolute rate of exploitation, or (b) increase investment in the means of production by improving labor productivity.
The rate of surplus value is assumed to be 100 per cent in each department, and [pounds sterling] 1 of output is assumed equal to a unit of labour.
409) At a 100 per cent rate of surplus value it can be assumed that 1,000 [pounds sterling] of surplus-value is appropriated.
To trace relative changes in the rate of surplus value, one should take the ratio of profits to wage bill proper.
Deterioration in business conditions hit overall profits and caused a mild decline in the rate of surplus value. However, 1998 was a particularly hard year.
Marx called s/v the "rate of surplus value
" and c/v the "organic composition of capital" (which is the quantity of means of production per laborer).