[OPE-L:1409] Re: Where's the value?

John R. Ernst (ernst@pipeline.com)
Sun, 10 Mar 1996 15:09:06 -0800

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I'm not going to try to defend the idea that each and evry bit
of value must be conserved. Rather, we should be able to account
for losses of value in its monetary form when it does occur. Further,
and perhaps more important, how these types of losses can viewed
as part of the accumulation is my concern.

Here, I'm not into some exacting quantitative analysis but rather, if you
will, some idea about how to treat value within the context of the
"losses of value" and fixed capital.


On Fri, 8 Mar 1996 Michael Perelman <michael@ecst.csuchico.edu> said:

>> 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
>with only specie.
>> any consequence concern the general trend for dead labor to substitute
>> living labor.
>> John says:
>> How about the trend for dead labor to substitute for previous dead
>> 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