From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Fri Apr 20 2007 - 07:59:32 EDT
> > As regards computers they are now completely integrated to all of > > industry (except for a few places in the world) this is true, but when > > we talk about capital goods, they constitute an indefinitely small > > part of the total value of the capital stock. Perhaps the equivalent > > of a few days paycheck for one employee. > Jerry wrote: > "On what basis did you come to that conclusion?" > Do you mean my last statement on the cost of labour? Hi Martin: No, I questioned the empirical basis for the claim that computers and computer components constitute "an indefininitely small part of the total value of the capital stock"? > That statement was > too exaggerated I admit. I tried to make a point about the tremendously > fast cheapening of computers in our days, but obviously a "few days > paycheck" is stretching it too far. Yes, I agree that computers have been cheapened (although, not at as great a rate as most industry experts predicted). But that was not the issue: the issue is how industry-specific are most capital goods? In solidarity, Jerry
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