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John, the assumption the you can predict physical life into the future seems
unjustified. As a result, I don't think that you can measure constant capital.
John Ernst wrote:
> If a new machine that costs $1000 will have a physical life of 20 years
> and an economic life of 10 years, what is the depreciation
> charge as we compute dM for its first year of use? For me and, I think,
> for Marx the charge would be $100. For you, given no technical change
> in machine production in that first year, the charge would be
> $50.
-- Michael Perelman Economics Department California State University Chico, CA 95929Tel. 530-898-5321 E-Mail michael@ecst.csuchico.edu
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