[OPE-L:3955] Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: TheTransformationProblem

From: Rakesh Bhandari (bhandari@Princeton.EDU)
Date: Wed Oct 04 2000 - 18:39:27 EDT

I shall reply in detail later. I must say that your claim that Marx is
doing comparative statics in vol 1 disallows you from grasping his answer
to the most puzzling paradox of all--that the most powerful instruments for
reducing labor time suffer a dialectical inversion  and become the most
unfailing means for turning over the whole lifetime of the worker and his
family	into labor time at capital's disposal for its own valorization.

part of marx's answer to this catastrope of a puzzle is that machines are
*continuously* losing (or in danger) of losing value due to technological
on going innovation (especially in the early years of new machine's life),
that is to *continuous* reductions in the socially necessary labor time
needed to produced any given amount of machine power. Moral depreciation is
not a phenomenon which as I understand it  can appear in a comparative
static exercise in which the time periods are discrete. But I don't know
your profession; is there  room for moral depreciation in comparative
statics? If not, then how can marx be said to be doing it? 

At any rate, please p. 528 Capital 1 (Vintage).

Gotta go for now.

All the best, Rakesh

This archive was generated by hypermail 2b29 : Tue Oct 31 2000 - 00:00:08 EST