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Can someone please explain this to me? (lemmygrad.ml)

submitted 1 week ago by [email protected] to c/[email protected]

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Someone was saying that even if using machines becomes cheaper than using humans, capitalist will still use humans because

"automation constitutes constant capital and human labour is variable capital

The Tendency for the Rate of Profit to Fall disproves that fact"

What do those mean?

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[–] [email protected] 0 points 1 week ago (2 children)

Thank you so much for simplifying the message for me! I get it now!

Could you please explain to me what the terms mean, so I can understand what people mean next time they use it?

[–] [email protected] 0 points 1 week ago

Sure, what terms you didnt get?

[–] [email protected] 0 points 1 week ago

From wikipedia:

Constant capital includes (1) fixed assets, i.e. physical plant, machinery, land and buildings, (2) raw materials and ancillary operating expenses (including external services purchased), and (3) certain faux frais of production (incidental expenses).

Variable capital [...] refers to the [...] labour costs [...].

Automated machines thus are the constant capital. And human workforce constitutes variable capital.

Essentially, machines are not useful without human intervention. Machines can boost productivity of human labour, but they cannot produce value on their own regardless of their level of technical sophistication.