Constant capital: Difference between revisions
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{{Hatnote|Not to be confused with [[Fixed capital]].}} | {{Hatnote|Not to be confused with [[Fixed capital]].}} | ||
'''Constant capital''' is the value of the [[Means_of_production|means of production]], like raw materials, fuel, electric power, etc., used in the production process. [[Labor-power]], however, is put into a separate category called [[Variable capital]]. | '''Constant capital''' is the value of the [[Means_of_production|means of production]], like raw materials, fuel, electric power, etc., used in the production process. [[Labor-power]], however, is put into a separate category called [[Variable capital]]. | ||
<blockquote>That part of capital then, which is represented by the means of production, by the raw material, auxiliary material and the instruments of labour does not, in the process of production, undergo any quantitative alteration of value. I therefore call it the constant part of capital, or, more shortly, constant capital. | <blockquote>That part of capital then, which is represented by the means of production, by the raw material, auxiliary material and the instruments of labour does not, in the process of production, undergo any quantitative alteration of value. I therefore call it the constant part of capital, or, more shortly, constant capital.<ref>[https://www.marxists.org/archive/marx/works/1867-c1/ch08.htm Capital, vol 1.VIII, Constant Capital and Variable Capital.]</ref></blockquote> | ||
==References== | ==References== | ||
{{Reflist}} | {{Reflist}} | ||
[[Category:Marxist economics]][[Category:Capitalism]] | [[Category:Marxist economics]][[Category:Capitalism]] | ||
Latest revision as of 01:30, 10 December 2025
Constant capital is the value of the means of production, like raw materials, fuel, electric power, etc., used in the production process. Labor-power, however, is put into a separate category called Variable capital.
That part of capital then, which is represented by the means of production, by the raw material, auxiliary material and the instruments of labour does not, in the process of production, undergo any quantitative alteration of value. I therefore call it the constant part of capital, or, more shortly, constant capital.[1]