[OPE-L:5142] Re: valuation of constant capital

Michael Perelman (michael@ecst.csuchico.edu)
Wed, 28 May 1997 19:11:28 -0700 (PDT)

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Gerald Levy wrote:
> Michael P wrote in [OPE-L:5140]:
> > Marx also noted that technical change first occurs in consumer goods --
> > say textiles; and later in the manufacture of the capital goods used to
> > produce the textile machines.
> 1) Where does Marx discuss the above?

Mike L. first pointed me to this reference, but I confess that I cannot
locate it right now. I will keep looking. It was in TSV, as I recall.
> 2) If we look at the early period in the development of the textile
> industry during the industrial revolution, didn't the advances in mass
> production and new process technologies precede the development of new
> product technologics?

Yes, exactly Marx's point. First they built factories by hand. These
factories had expensive capital and relatively efficient production,
causing a high occ. Then specialists began to build factories, lowering
the o.c.c.

Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 916-898-5321
E-Mail michael@ecst.csuchico.edu