I sniff methodological individualism in the debate
on moral depreciation.
The starting point should be an analysis of its effects
on the division of the social working day between
necessary and surplus labour time. Only when that
is settled can you work through to its effects
on aggregate social reproduction, and from there
to its manifestation in the consciousness of the
agents.
The key constraint is that rapid obsolescence of
equipment implies more of the social working day
must be devoted to the production of means of
production - part of societies necessary labour time,
hence it tends to lower the rate of surplus value.
This must be dealt with first.