Social Scientist. v 6, no. 63 (Oct 1977) p. 39.

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capitalist enterprise..." Capital, Vol II, p 244.

15 Capital, Vol II Moscow 1967, p 252.

16 We may express the above discussion formally thus. Let s* s= annual rate of surplus value, s == the rate of surplus value as such, c = surplus labour/necessary labour per working day, V == advanced variable capital and n == the number of turnovers per year.

Then s* = total annual surplus value advanced variable capital

(surplus value X (number of turnovers _ ____per turnover) ___ per year)

advanced variable capital

(s' X v) X n ,

- v ^ y ==. s'n.

17 Ibid., p 314.

18 Ibid., p 315.

19 While the text msrel / points out the possibility of a crash, Karl Marx presents a

vivid picture of the process. See the brilliant passage on pp 315-316, and also

p 318 of Capital, Vol II Moscow 1967. ^ Ibid , p 315.

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