Re: [OPE] Invention, Inventors, and the Productivity of Labor

GERALD LEVY wrote:
> > You are taking a narrower definition of the productivity of labour
> than me.
>
>
> Hi Paul C:
>
> Perhaps so: am I mistaken in thinking that you believe that all
> innovations
> are ultimately labor-saving and there is no such thing as a capital
> goods-saving
> innovation which lowers costs but doesn't increase labor productivity?
>
> In solidarity, Jerry
Since capital is just stored up labour, any 'capital saving innovation'
in *** flow accounting *** is labour saving.
In stock accounting, the question is indeterminate.
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Received on Mon Nov 3 11:26:22 2008