Michael writes:
Paul C., tell me how you can measure the values of the labor emodied in
constant capital when the capital undergoes revaluations?
How would you calculate the value of a team of software engineers working
in
a large industrial enterprise?
Paul Cockshott;
For your first question do you want the pragmatic answer or the
ideal one?
The pragmatic answer is that one uses BEA estimates of capital stock
at current replacement cost when working on US figures for example.
The ideal answer is that one would have access to data on the hours
currently expended to produce the replacement goods. Of course
contemporary economic statistics are not that good.
For your second question, can you please clarify what you are asking.
Are you asking about the value of their labour power or the value
that they create?