[OPE-L:2714] Assumptions in Transformation

John Ernst (ernst@nyc.pipeline.com)
Wed, 24 Jul 1996 14:33:57 -0700 (PDT)

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1. Given Fred's remark in 2712 that Marx included "fixed
capital" as he transformed values into PoP, was Marx
right? That is, the manner in which fixed capital is
"marked up" differs not at all from the manner in which
circulating captital is treated. Do we assume this to
be true?

2. Is Marx also assuming that quantities of fixed capital
all have the same age composition?

3. Is he also assuming that a machine that is, say, 10
years old differs only in terms of age from one that is
not 10 years old?