>
> John says:
>
> To a certain extent, value takes the form of a physical entity. Hence,
> Alan might well have asked, "Where has all the money gone?"
Michael responds.
But even with money, we do not have a conservation law except in an economy
with only specie.
> any consequence concern the general trend for dead labor to substitute for
> living labor.
>
> John says:
>
> How about the trend for dead labor to substitute for previous dead labor?
> That is, you're right, in Marx, dead labor is substituted for living
> labor. Machines replace living labor. But machines also replace
> machines.
>
yes. yes. yes., but again, how precise does the quantification have to be?
-- Michael Perelman Economics Department California State University Chico, CA 95929Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu