RE: [OPE] Understanding Value and Use-Value

Hi Phil:
 
Previously, I wrote:

>> [...] and how do you theorize - the decrease in utility
>> which occurs over a period of time after a commodity has been sold?
>> This is a relevant question for the topic of moral depreciation since the
>> loss of value and exchange value happens as a consequence of the
>> decrease in (socially-contextualized) utility/use-value. Those who assume
>> that the use-value, value, and exchange value of elements of constant
>> capital depreciate in a straight line manner over a predictable time period
>> are assuming away this form of depreciation. [...]

You replied, in part:
 
> How on earth can you be quantitative about the depreciation of
> use-value?
> Buy a pint of milk for a dollar. Down the road at another shop some-one
> else buys a pint for 90c. Same quantity of milk, different quantity of
> milk commodity.
 
 
Let's stick to moral depreciation. Whatever value individual elements
of constant capital had at the time of the exchange, there can be a premature
loss in value and exchange value due to technological change.
The technological change means that the USE-VALUE of the older means
of production has been reduced.
 
It's not a question of what we think or what Marx thought; it's a
question of what actually happens. What actually happens is that the
USE-VALUE of the means of production deteriorates and it is the
reduction in USE-VALUE which causes a re-evaluation of individual
value and exchange-value which occurs in the market.
 
When you are referring to the price of milk, you are talking about
a homogeneous product (no pun intended) for a commodity which is a
means of consumption in the absence of technological change. If you
consider elements of constant capital and technological change
then the situation becomes more complex.
 
In solidarity, Jerry_______________________________________________
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Received on Sat Apr 25 12:47:49 2009