[OPE-L:4149] Re: Use Value and Value

From: glevy@pratt.edu
Date: Wed Oct 18 2000 - 11:26:35 EDT

Re Steve K's [4148]:

> 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.

I would explain the matter somewhat differently: the introduction of
qualitatively new, more advanced, means of production when it causes a change in socially-neecessary-labor-time thereby causes a *re-valuation* in the value and the exchange-value of the older, less advanced, means of production  due to a decrease in its (relative) use-value. I.e. the decrease in use-value of the older means of production leads to a *loss in value* (and exchange-value) of that means of production. Whether, in the aggregate, this represents a re-distribution of value among capitalists or possibily a net decrease in value is another, related, question. Thus, whether machinery can
*lose value* (through reasons other than physical depreciation) is a quite different proposition from whether machinery can *create value* (which I take it to be your position). 

In solidarity, Jerry

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