[OPE-L:4148] Re: Re: Revaluation

From: glevy@pratt.edu
Date: Wed Oct 18 2000 - 10:55:31 EDT

---------- Forwarded message ----------
From: Steve Keen <s.keen@uws.edu.au>
Date: Tue, 17 Oct 2000 05:19:55 +1000
Subject: Re: [OPE-L:4113] Re:  Revaluation]

In other words, if we're looking at commodities which are inputs to
production, their use-value from the point of view of the capitalist is
quantitative--their ability to add value to the product.
At 16:57 16/10/00 GMT, you wrote:
>Michael P wrote in [OPE-L:4112]:
>> Use value is specific, regardless of the context.  A horse and
>> buggy can still move you from point A to point B.  An old computer > can
still do what it did before the newer models appeared.
>If one compares the use-value of the old technology (now rendered
obsolete) to the use-value of the new technology one does indeed see a
decrease in use-value. I.e. its *relative use-value* (am I coining a new
term?) has decreased. This decrease in relative use-value then leads to a
decrease in exchange-value and value for the older, less efficient
>In solidarity, Jerry
Dr. Steve Keen
Senior Lecturer
Economics & Finance
University of Western Sydney Macarthur
Building 11 Room 30,
Goldsmith Avenue, Campbelltown
PO Box 555 Campbelltown NSW 2560
s.keen@uws.edu.au 61 2 4620-3016 Fax 61 2 4626-6683
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Home Page: http://bus.macarthur.uws.edu.au/steve-keen/

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