Re: [OPE-L] Truncating Marx's "Capital"

From: Michael Perelman (michael@ECST.CSUCHICO.EDU)
Date: Thu Aug 30 2007 - 23:00:48 EDT

The punchline is that the value remaining in capital goods that have already gone
through a production cycle is indeterminate, especially because of changes in
reproduction costs of the capital.  As a result, one cannot know how much value will
be transferred to the final product from the constant capital because of this

I discussed this with Andrew when he was a student assistant at RRPE, but he was
very young at the time and I'm not sure how much of my thinking registered with him.

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at

This archive was generated by hypermail 2.1.5 : Sun Sep 02 2007 - 00:00:11 EDT