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I agree that it is a theoretical issue and that there's nothing
special about computer technology in the sense that I've mentioned.
>
> Mike:
>
> This isn't an empirical issue. It's a theoretical issue. There's nothing
> special about computer technology in the sense that you've mention. Any new
> plant or equipment purchase may last for a shorter period of time than
> expected. That's the nature of technological change.
>
> Once theoretists have settled in on a solution, empirical folks can then
> construct the appropriate procedure for measuring value as defined by the
> theorists. I don't believe in measurement without theory, since (as I've
> said before) empirical measurement is simply the most concrete phase of
> theoretical development.
>
> peace, patrick
>
>
>
> At 04:18 PM 5/24/00 -0700, you wrote:
> >Think of the simple formula c + v + s. The first element represents the
> value
> >that is transferred from the capital goods to the final product. It is an
> analog
> >to depreciation in conventional theory. So suppose that you start a
> business and
> >you're using a new computer. If the computer will be obsolete in a year, the
> >amount of value that would be transferred to the final good -- assuming
> that the
> >final good is using the socially necessary labor required for production
> -- would
> >be much higher than if the computer would be expected to last for 20
> years. How
> >you know in advance how long the computer will be in years.
> >
> >"Patrick L. Mason" wrote:
> >
> >> Mike, I'm not clear on what you mean.
> >>
> >
> >--
> >Michael Perelman
> >Economics Department
> >California State University
> >Chico, CA 95929
> >
> >Tel. 530-898-5321
> >E-Mail michael@ecst.csuchico.edu
> >
> >
>
>
-- Michael Perelman Economics Department California State University Chico, CA 95929Tel. 530-898-5321 E-Mail michael@ecst.csuchico.edu
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