[OPE-L:1786] No Accumulation

John R. Ernst (ernst@pipeline.com)
Sun, 14 Apr 1996 12:10:38 -0700

[ show plain text ]

There is a question that I'd like to bring into the
discussion of accumulation:

In the period of large scale industry, does capital accumulate?

Why this question? Consider the accumulation process with the
assumption that the capital output ratio falls as better
machines replace machines. If we set input prices equal to
output prices, then, with a given work force, constant capital
begins to disappear.