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Symbol or abbreviation

Meaning

Section first use

Remark

Chapter 1

MVD

monetary value dimension

1§4

M

money (amount)

1§4-c

Ci

[in italics] any commodity (other than commodity j) [used in this Explication only]

1§4-c

used only once

Cj

[in italics] any commodity (other than commodity i) [used in this Explication only]

1§4-c

used only once

CPE

Classical Political Economy

1§5-b

K

active capital (value in terms of MVD): assets of balance sheet total

1§13

Kt′

idem, at beginning of year t

1§13

Kt

idem, year average

1§13

Πt

surplus-value (= integral profit) produced per year

1§13

pi

ω

rate of integral profit (Πt / Kt′)

1§13

omega

L

labour-capacity (amount of in going fte per year, unless specified as per hour)

1§14

w

wage rate (wage in going fte per year, unless specified as per hour)

1§14

wL

wages sum

1§14

δ

fraction of the total assets K, equivalent to the used up fixed assets

1§14

delta

μ

fraction of the total assets K, equivalent to the used up floating means of production (usually a larger sum than the sum that appears on the balance sheet)

1§14

mu

Xt

output of production per year (realised)

1§14

Lα

actual labour (labour-capacity exerted at a power α) [the unique source of valorisation]

1§14

α

production power of labour (in terms Lα) [Lα = Lα ϊ]

1§14

alpha

technique-associated productive power of labour (in terms Lα)

1§14

alpha, with tonos

ϊ

intensity of labour (in terms Lϊ)

1§14

iota, with dialytika

m

actual unit monetary value of labour (per year, unless specified as per hour); more specifically: the realisation constraint resulting in the unit monetary value labour

1§14

mLα

actual monetary value of labour (realised) = net value-added

1§14

YG

gross value-added (macroeconomically this would be GDP)

1§14

Y

net value-added (macroeconomically this would be NDP)

1§14

GDP

Gross domestic product

1§14

NDP

Net domestic product

1§14

Chapter 2

Δ

change [see also x]

2§3

å

ratio of capital accumulation out of surplus-value (a variable; amplified in 3§11 and 5D1)

2§3

a, ring

xt

rate of growth [of any variable underlined] = (xt-1 – xt) / (xt-1)

2§4, fn.

x

rate of growth [of any variable underlined] = (xt-1 – xt) / (xt-1) = ∆x/x [time indices omitted]

2§4, fn.

τ

capital-labour ratio [τ = K/L]

2§4

tau

U

unemployment (number) [reserve of labour-capacity]

2§4

u

rate of unemployment in % [u ={U/(L+U)}* 100]

2§4

e

rate of surplus-value (or profit per labour-year-compensation) [e = Π/wL]

2§5

|ϊ|

limited intensity of labour (physical or compliance limit)

2§5

|α|

limited production power of labour (because of limited intensity of labour)

2§5

|x|

limited value of a variable (x)

2§5

ClB

Clearing Bank

2§9

CB

Central Bank

2§9-a

Chapter 3

PVF

pre-validating finance (of enterprises by banks)

3§2

CG

consumer goods

3§2-b

MP

means of production

3§2-b

RPVF

remaining PVF (pre-validating finance of enterprises by banks)

3§6

Σ

summation

3§6-c

I

investment by enterprises (net)

3§9

S

saving

3§9

W

wages sum enterprises (W=wL)

3§10

xP

planned production value of a variable (x)

3§10

E

macroeconomic net expenditure

3§10

C

consumption by households (Ck+Cw)

3§10

Xd

desired (current) production

3§10

Ck

consumption by capital owners

3§10

Cw

consumption by wage earners (enterprises)

3§10

Sw

saving out of wages (wage earners enterprises)

3§10

Chapter 4

TERP

tendency to equalisation of average inter-sector rates of integral profit

4§2

ROC

restructuring of capital

4§2-b

TUP

tendency to uniform prices within a sector or market

4§3

Chapter 5

ε

share of ‘external’ finance in capital (banks plus other financiers)

5§1

epsilon

i

[in italics] average rate of interest for enterprises: the weighted average of the rates paid to banks and to other financiers

5§1

εK

external capital (passive capital furnished by external financiers)

5§1

iεK

surplus-value distributed to external financiers

5§1

R

internal profit (surplus-value after interest payments)

5§1

cf. 3§1, Fig. 3.2b

ρ

rate of internal profit on the internal capital

5§1

rho

sw

fraction saved out of wages (non-constant)

5§3

PD

sum of dividends and interest distributed to capital owners

5§3, fn.

ø

rate of undesired overcapacity (undesired overcapacity/production capacity)

5§5

o stroke

Chapter 8

general

for ‘state’: symbols G (g), instead of S (s) to avoid confusion with notation for savings

Wg

wages sum paid by the state (g for government) = wages of civil servants (before their taxes)

8§1

Fg

state expenditure on floating inputs, including replacement investment

8§1

GCOL

state expenditure on collective goods and services

8§1

Yg

net value-added (net product) of the state

8§1

Ig

investment expenditure by the state (net)

8§2

Zg

social security transfers

8§2

Qg

interest payments on the state debt

8§2

Ag

amenities (sum of subsidies to enterprises, to households and to cultural institutions)

8§2

G

sum of state expenditure (net)

8§2

CFg

current finance of state expenditure (net)

8§4

T

sum of taxes

8§4

SSC

sum of social security contributions

8§4

OR

other receipts of the state

8§4

B

net current borrowing flow of the state (B < 0 in case of a fiscal surplus)

8§4

Ie

[italics] net investment by enterprises (after the state domain being explicit)

8§6

We

[italics] wages sum paid by enterprises (after the state domain being explicit)

8§6

Cwe

[italics] consumption by enterprises’ wage earners (after the state domain being explicit)

8§6

Cwg

consumption by the state’s wage earners

8§6

Cqg

consumption out of interest paid by the state

8§6

Czg

consumption out of social security transfers

8§6

Swg

saving out of wages paid by the state

8§6

Sqg

saving out of interest paid by the state

8§6

Szg

saving out of social security transfers

8§6

Smg

state mediated savings (Swg + Sqg + Szg)

8§6

Swe

[italics] saving out of wages sum paid by enterprises (after the state domain being explicit)

8§6

Π

[italics] surplus-value (= integral profit), after the state domain being explicit

8§6

Y

[italics] net value-added total economy (after the state domain being explicit)

8§6-b

Ye

net value added enterprises (after the state domain being explicit)

8§6-b

Ee

final expenditure of the non-state sector with the enterprises sector

8§6-b

Eg

direct and indirect expenditure of the state sector with the enterprises sector

8§6-b

R

[italics] internal profit (after the state domain being explicit)

8§6-c

Qe

net interest paid by enterprises to their external financiers

8§6-c

Tsv

taxes paid by enterprises, with surplus-value being the tax base

8§7

To

all other taxes, next to Tsv (the latter being enterprises’ taxes on surplus-value)

8§7

Πat

surplus-value, after taxes on surplus-value (after the state domain being explicit)

8§7

Tr

taxes on the internal profit (R)

8§7-a

To*

all other taxes, next to Tr (the latter being enterprises’ taxes on internal profit)

8§7a

Rat

internal profit, after taxes on internal profit (after the state domain being explicit)

8§7a

TH

‘hybrid taxes’ (simplifying notation: TH = Tsv + To + SSC + OR)

8§8

THo

‘other hybrid taxes’ (simplifying notation: THo = To + SSC + OR)

8§8

Sg

current saving of the state (the fiscal surplus TH– G)

8§8

Chapter 11

HIC

high-income country (World Bank definition)

11§2-a

UMC

upper-middle-income country (World Bank definition)

11§2-a

LIC

low-income country (World Bank definition)

11§2-a

LMC

lower-middle-income country (World Bank definition)

11§2-a

FDI

foreign direct investment

11§10-b

Throughout

LHS

left hand side (of an equation)

RHS

right hand side (of an equation)

SNA

System of national accounts

Unusual signs in equations

🢔

right hand side to left hand side determination

1§12

🢔 =

equality with right to left hand determination

1§12

Unusual signs in texts

decrease (e.g. I↓)

increase (e.g. I↑)

results in / gives rise to

x – → y

negatively related effect of x on y

2§4

x ← – y

negatively related effect of y on x

2§4

x +→ y

positively related effect of x on y

2§4

x ←+ y

positively related effect of y on x

2§4

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The unity of the capitalist economy and state

A systematic-dialectical exposition of the capitalist system

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