Abstract
This article starts with a discussion of the capitalist production relations which are defined as the relations binding two types of agents of production and the means of production. These relations are considered from the point of view of ownership, expropriation of value, and function performed. The ownership element is given the determinant role in the sense that the owner of the means of production is also the expropriator of surplus value (exploiter) and he who performs the function of capital (non-labourer). Vice versa for the non-owner of the means of production who is also the exploited and the performer of the function of labour (labourer). There is in this case correspondence between the determinant and the determined elements. Thus the two fundamental classes under capitalism are defined in terms of correspondence among the three aspects of the production relations. But the concept of determinantion implies both correspondence and contradiction between the determinant and the determined elements. The middle classes are identified in terms of contradiction among the three aspects of the production relations. Thus, there are agents (‘the new middle class’) who do not own the means of production and who perform either only the global function of capital or both this function and the function of the collective worker. This analysis of the capitalist production relations provides the opportunity for introducing the concept of positions (a fractional unit of the capitalist production process) which has both a technical content (given by the technical division of labour) and a social content (just as the capitalist production process rests on certain production relations, so does each of its fractional units). Thus, an agent of production relations and thus can be placed, at this level of abstraction, in the class structure. Subsequently, the thesis is submitted that the reproduction of classes depends on the production of both positions and agents, where the former has the determinant role. This implies that there can be a discrepancy between positions and agents at the level of the economic, i.e. that there can be a discrepancy between the value of an agent's labour power and the value required by a position. The devaluation of labour power is an important example of such a discrepancy. A distinction is made between two types of devaluation of labour power: wage goods devaluation and devaluation through dequalification. It is the latter which explains the reduction of skilled to average labour (technical dequalification of positions) and thus also the disappearance of the global function of capital (social dequalification of positions). Thus, it is the latter form of devaluation of labour power which must be used to explain the proletarianization of the new middle class. A comparison is drawn between the two types of devaluation of labour power and the circumstances are discussed which can give the dominant role either to one type of devaluation or to the other. The rest of the article uses this conceptual framework to interpret the changes undergone by the Italian new middle class since its origins.

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