Re: [OPE] Brad DeLong, 'Understanding Marx"

From: Gerald Levy <>
Date: Sat Apr 25 2009 - 07:10:46 EDT

> No. The machine called George remains unchanged as George all those
> years. George can rust, age and get dents; He can loose efficiency or
> gain it. He still remains, say, a Spinning Jenny Model 12345, one
> use-value unit of.
> The problem is the numerous connotations of the term 'use-value'. I
> think I will stop using it since it means all things to all men.

Hi Phil:

Yes, that may be the problem. But, substituting the word utility
(or usefulness) for use-value (yes, I realize they are not identical)
do you recognize - and how do you theorize - the decrease in utility
which occurs over a period of time after a commodity has been sold?
This is a relevant question for the topic of moral depreciation since the
loss of value and exchange value happens as a consequence of the
decrease in (socially-contextualized) utility/use-value. Those who assume
the use-value, value, and exchange value of elements of constant
capital depreciate in a straight line manner over a predictable time period
are assuming away this form of depreciation.

>> In any event, what is a "unit of use-value".
> No. Pints of milk, pounds of sugar, tons of steel, numbers of iPods.

The type of data in an input-output table, then. Hmmmm.

In solidarity, Jerry

ope mailing list
Received on Sat Apr 25 07:12:41 2009

This archive was generated by hypermail 2.1.8 : Tue May 12 2009 - 15:26:04 EDT