that all value is being created by labor.

一切价值均由劳动创造
And he said, "But what is constant capital?

他说道 "但不变资本是什么呢
Where does constant capital come from?"

它又是从哪里来的"
He said it is coming from labor.

他补充道不变资本来自劳动
It is accumulated labor.

它是劳动积累的产物
It is labor which was actually performed before capital accumulation,

它是先于资本积累的劳动活动
was appropriated by the capitalist,

被资本家拿来挪用后
and it is being now used as constant capital.

就变成了现在的不变资本
So there is, one argument is,

也就是说
all capital was at one point a product of labor,

从某中角度来说所有资本都是劳动的产物
and that is what is your investment.

因此投资也是劳动的产物
As I said, variable capital are wages.

我说过可变资本即为工资