{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title":"Digital Capitalism","author":null,"edition":null,"publisher":null,"year":null,"isbn":"2021022153","requested_by":"printed_page","book":{"source_type":"original_book","book_id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","uuid":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title":"Digital Capitalism","normalized_title":"digitalcapitalism","author":null,"edition":null,"publisher":null,"year":null,"isbn":"2021022153","isbns":["2021022153","9781032119182","9781032119205","9781003222149","2405518376"],"parsed":true,"ai_readable":true,"document_type":"book","page_count":343,"navigation_url":"https://workshop.closeclaw.top/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title_url":"https://workshop.closeclaw.top/ai/title/Digital%20Capitalism","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","page_url":"https://workshop.closeclaw.top/api/ai/books/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page","search_url":"https://workshop.closeclaw.top/api/ai/books/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/search"},"page":{"printed_page":285,"pdf_page":299,"physical_index":299,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"9a6ac50d17b0142bd370df8274e064f794a91facc81e6358c9b14c03b8ea9940"},"chapter":"DIGITAL CAPITALISM","content":"• At a specific time t, the MELT can be calculated as (Freeman 1998):\n\nMELT $\\mathrm { ( t ) = ( c _ { p } ( t ) + v _ { p } ( t ) + p _ { p } ( t ) }$ [in prices]) $/ \\left( \\mathfrak { c } _ { \\mathfrak { h } } ( \\mathfrak { t } - 1 ) + \\mathfrak { v } _ { \\mathfrak { h } } ( \\mathfrak { t } - 1 ) + \\mathfrak { p } _ { \\mathfrak { h } } ( \\mathfrak { t } - 1 ) \\right)$ [in years or hours])\n\nwhere $\\mathtt { C } _ { \\mathtt { p } } ( \\mathtt { t } )$ stands for total constant capital at the price level at point of time t (measured in monetary units);\n\n$\\mathsf { V } _ { \\mathsf { p } } ( \\mathsf { t } )$ is total variable capital at the price level at point of time t (measured in monetary units);\n\n$\\mathsf { p } _ { \\mathsf { p } } ( \\mathsf { t } )$ is total profit at the price level at point of time t (measured in monetary units);\n\n$\\complement _ { \\mathfrak { h } } ( { \\sf t } - 1 )$ is total constant capital at the level of labour-time at the point of time t-1 (measured in hours or years);\n\n$v _ { \\mathrm { h } } ( t - 1 )$ is total variable capital at the level of labour-time at the point of time t-1 (measured in hours or years) (= necessary labour-time at the level of wages); $\\mathsf { p } _ { \\mathsf { h } } ( \\mathsf { t } - 1 )$ is total profit at the level of labour-time at the point of time t-1 (measured in hours or years) (= surplus labour-time).\n\n• I calculated the economy-wide MELT for the German economy for the years 2000–2011 (t=0, 1, 2….10). Table 12.1 gives an overview. The initial MELT (0) in the years 2000 was calculated as:\n\n$$\n{ \\sf M E L T } \\left( 0 \\right) = \\left( \\mathrm { c } _ { \\mathrm { p } } ( 0 ) + \\mathrm { v } _ { \\mathrm { p } } ( 0 ) + \\mathrm { p } _ { \\mathrm { p } } ( 0 ) \\left[ \\mathrm { i n \\ p r i c e s } \\right] \\right) / \\left( \\mathrm { c } _ { \\mathrm { h } } ( 0 ) + \\mathrm { v } _ { \\mathrm { h } } ( 0 ) + \\mathrm { p } _ { \\mathrm { h } } ( 0 ) \\left[ \\mathrm { i n \\ h o u r s } \\right] \\right)\n$$\n\nThe total hours worked during a year (= h) in the economy represent the hours during which living labour creates the value of its labour power (wages, necessary labour-time) and new value (surplus-value, surplus labour-time):\n\n$$\n\\mathsf { h } ( \\mathrm { t } ) = \\mathsf { v } _ { \\mathsf { h } } ( \\mathrm { t } ) + \\mathsf { p } _ { \\mathsf { h } } ( \\mathrm { t } )\n$$\n\nwhere h(t) is total hours worked in year t;\n\nChapter Twelve | The Information Economy\n\n285\n\nThe Information Industry and Marx’s Labour Theory of Value","previous_page":284,"next_page":286}