Accumulation and Technology

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Accumulation and Technology: Exemplar 2

Author:: Steindl, Josef

Scope:: Typoskript, 25 Blätter, mit zahlreichen handschriftlichen Anstreichungen

Year of publication:: 1984

Source material date:: [vermutlich um/vor 1984]

Note:: Exemplar 2 (Exemplar 1 mit anderen handschriftlichen Anmerkungen siehe AL00656752).

Shelfmark:: S/M.5.2

DOI:: https://doi.org/10.48671/nls.js.AC14446022

19 in relation to total manpower. It is however, obvious from a later part of the chapter ( Das Kapital p.679-680 ) where he speaks of a :general law of capitalist accumulation” that Marx did not confine the role of technical progress to this purely adaptive passive role but recognised that it could develop a lifeof its own and overshoot the mark by producing more unemployment than the nees of accumulation would dictate. In other words he envisaged an action of technical progress which would produce an increasing rate of unemployment. This, it may be noted, would not induce an increase in accumulation because the wages would be stuck at the subsistence level. This situation would arise when the growth of manpower and the growth of productivity taken together would exceed the historically given trend rate of growth of capital. ( The growth of capital,for the economy as a whole, will be proportionateto the growth of employment, because capital-constant as well as variable - given a fixed life-time and disregarding echo waves will be continuously reproduced at a certain given pace. We may here conveniently think of capital being measured in terms of labour value ). There is then a continuous displacement of labour. The displacement effect, both before and since Marx, has given rise to heated discussion. It has been maintained that the displacement could not be more than a transitional phenomenon, because in principle an automatic compensation would be assured by a corresponding amount of new employment.

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