Hi John,
Thanks very much for your reply (808). I am busy with other things the next
few days, but will respond as soon as I can. A couple of quick questions of
clarification to help me better understand your argument:
1. What exactly is your definition of "moral depreciation" (anticipated
devaluation of constant capital?) and how does it affect the evaluation of
constant capital
(reduces the original constant capital invested?)?
2. Would you please give some references where Marx discussed moral
depreciation? It does not appear to be in the index of any of the three
volumes of Capital or in Theories of Surplus-Value. Which does not
necessarily mean that it is not important(these indexes are not very good).
But it does not that I can't find any references. Just books and page
numbers will do.
Thanks a lot.
Fred