[OPE-L:4929] Re: ideal vs real value

Paul Cockshott (wpc@cs.strath.ac.uk)
Tue, 6 May 1997 01:46:32 -0700 (PDT)

[ show plain text ]

> From: Gerald Levy <glevy@pratt.edu>
> To: Multiple recipients of list <ope-l@anthrax.ecst.csuchico.edu>
> Subject: [OPE-L:4903] Re: ideal vs real value
> Date: 04 May 1997 16:07
> Thus, in considering
> the affect of technical change, the magnitude of value and s "lost" by
> some capitalists is _exactly_ equal to the magnitude of value and s
> "gained" by other capitalists. The result is then like a "zero-sum game".

> >From my perspective, this theorem has the very real disadvantage that
> it denies the possibility of the *destruction* of capital values such
> the aggregate magnitude of value can be *diminished* rather than *only*
> transferred. This *destruction _and_ redistribution* of value is
> precisely what I believe occurs in a crisis.
Value may be conserved in exchange, but that does not imply that
value of goods left on the shelves of warehouses etc must stay the
same. The issue of stock depreciation is quite distinct from
conservation in exchange.