---------- Forwarded message ---------- From: Steve Keen <s.keen@uws.edu.au> Date: Tue, 17 Oct 2000 05:19:55 +1000 Subject: Re: [OPE-L:4113] Re: Revaluation] In other words, if we're looking at commodities which are inputs to production, their use-value from the point of view of the capitalist is quantitative--their ability to add value to the product. Cheers, Steve At 16:57 16/10/00 GMT, you wrote: >Michael P wrote in [OPE-L:4112]: > >> Use value is specific, regardless of the context. A horse and >> buggy can still move you from point A to point B. An old computer > can still do what it did before the newer models appeared. > >If one compares the use-value of the old technology (now rendered obsolete) to the use-value of the new technology one does indeed see a decrease in use-value. I.e. its *relative use-value* (am I coining a new term?) has decreased. This decrease in relative use-value then leads to a decrease in exchange-value and value for the older, less efficient technology. > >In solidarity, Jerry > > Dr. Steve Keen Senior Lecturer Economics & Finance University of Western Sydney Macarthur Building 11 Room 30, Goldsmith Avenue, Campbelltown PO Box 555 Campbelltown NSW 2560 Australia s.keen@uws.edu.au 61 2 4620-3016 Fax 61 2 4626-6683 Home 02 9558-8018 Mobile 0409 716 088 Home Page: http://bus.macarthur.uws.edu.au/steve-keen/
This archive was generated by hypermail 2b29 : Tue Oct 31 2000 - 00:00:10 EST