Constant Capital

Corresponding to “variable capital”. In the process of capitalist production, the part of capital that exists in the form of means of production is called constant capital (denoted by the letter C). Constant capital is an essential material condition for the production of surplus-value. In reality, the concrete forms of constant capital generally manifest themselves as machinery, factories, equipment and raw materials, etc. Constant capital has undergone a change in the form of use-value in the production process. In terms of value, it transfers the original value to the new product with the aid of the concrete labor of the worker. No modification takes place in the amount of the original value, so that it is called “constant capital”.