[OPE-L:1386] Re: Where's the value?

Michael Perelman (michael@ecst.csuchico.edu)
Fri, 8 Mar 1996 15:17:39 -0800

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> John says:
> To a certain extent, value takes the form of a physical entity. Hence,
> Alan might well have asked, "Where has all the money gone?"

Michael responds.

But even with money, we do not have a conservation law except in an economy
with only specie.

> any consequence concern the general trend for dead labor to substitute for
> living labor.
> John says:
> How about the trend for dead labor to substitute for previous dead labor?
> That is, you're right, in Marx, dead labor is substituted for living
> labor. Machines replace living labor. But machines also replace
> machines.
yes. yes. yes., but again, how precise does the quantification have to be?

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu