[OPE-L:1088] Re: Moral depreciation again

Duncan K Foley (dkf2@columbia.edu)
Fri, 16 Feb 1996 12:26:16 -0800

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Reply to John Ernst:

Wouldn't a rationally planned socialist society also abandon machines if
they couldn't cover their variable costs at optimal shadow prices? Why is
it such a good thing to keep obsolete equipment in operation?