[OPE-L:3296] RE: Clarification of Tech Change

Allin Cottrell (cottrell@wfu.edu)
Sun, 6 Oct 1996 14:18:20 -0700 (PDT)

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> Tech change cannot be both labour- and capital-saving, at
> the aggregate, macro level, so long as accumulation is
> proceeding. (Although, as Paul C has pointed out more than
> once, one cannot assume that accumulation always proceeds.)

> Why not? Given accumulation is proceeding, why can there
> not be less living labor per unit output as well as less
> constant capital per unit output as we move from one period
> to the next?

Per unit of physical output, OK. But that is of little
relevance to value-theoretic matters. My point was really
that there can't be "capital saving" at the aggregate level
unless decumulation of capital is taking place.