[OPE-L:5334] Re: Re: Re: Re: is technical change continuous or discontinuous?

From: Gerald_A_Levy (Gerald_A_Levy@email.msn.com)
Date: Thu Apr 05 2001 - 02:27:06 EDT

Re Rakesh's [5333]:

> Jerry, we can then distinguish between the
> continuous depreciation of
> unit values and continuous technical change.
> The TSS argument only  needs the former
> for its critique of comparative statics, in
> particular the assumption of input
>  prices=output prices.

Hmmm. Suppose that there is a an
inter-temporal  *appreciation* of  the *market
price* of certain elements of what  become
constant circulating capital (inclusive of storage
costs). E.g. short to medium-term price
increases in oil, gasoline, and derivative
energies.  Would there then necessarily be
under these  circumstances, ceteris paribus, a
continuous depreciation of unit value?

Note how if you include in your measure of
the 'depreciation' of  unit values the re-valuation
of the market price of constant capital,
there is thus the perverse possibility that
*value* can appreciate over time in the period
following sale. Thus, the *value* of the stock
of constant capital could increase with time.

> But Marx says that he abstracts from
> continuous revolutions in value
> so he can lay out the moments in the circuit
> undisturbed.

What exactly is the quote you are referring to?

> That is, I
> think you have reified an assumption made for
> cognitive tractability.

What assumption are you referring to?

In solidarity, Jerry

> Have you ever read Max Webber's The
> Vocation of Bookworming?
PS: No.

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