The capital/product relation in the classical political economy

Vol. 15 No. 1 (1995)

Jan-Mar / 1995
Published January 1, 1995
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Kilsztajn, Samuel. 1995. “The capital/Product Relation in the Classical Political Economy”. Brazilian Journal of Political Economy 15 (1):150-53. https://doi.org/10.1590/0101-31571994-0638.

The capital/product relation in the classical political economy

Samuel Kilsztajn
Do Programa de Estudos Pós-Graduados em Economia Política, Pontifícia Universidade Católica – PUC, São Paulo/SP, Brasil.
Brazilian Journal of Political Economy, Vol. 15 No. 1 (1995), Jan-Mar / 1995, Pages 150-153

Abstract

The capital/product relation in the classical political economy appears as a contradictory
relation between capital and labor. In conformity with the theory of value, as productivity
increases, the commodities are depreciated in labor value, while capital is defined
as value in self-expansion. This paper argues that the increase of the capital/product relation
(or organic composition of capital) is theoretically linked to the decrease of the price level.

JEL Classification: B12; B14.


Keywords: Investment history of economic thought