[OPE-L:3282] RE: Clarification on Tech Change

John Ernst (ernst@nyc.pipeline.com)
Fri, 4 Oct 1996 21:37:24 -0700 (PDT)

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Let's be clear about what is being claimed and who
is doing the claiming.

1. On the macro level, the rate of profit falls in such a way
that it is claimed that constant capital increases faster
than output.

2. I have cited passages in Marx that support my claim that
for him in the period of modern industry as capitalists
replace machines with machines, not only is labor
saved but the constant capital to output ratio falls.
I have asked for examples that refute Marx's idea
of this type of technical change. Note that with
Marx all seem agreed that tech change is labor

3. What I have been seeking are examples of capital using
tech change in the period of modern industry. Again no
one is arguing that these changes are not labor saving.

4. The basic issue is : if Marx holds that tech change is
both capital saving and labor saving in the period of
modern industry, why would the rate of profit fall?