> John:
>3. TSS opens up the possibility that you can have capital
>augmenting technical change (see above) and a FRP. Using
>other approaches to the concept of value, this is impossible.
Paul:
This is not the case at all.
The method of determining values by recursive application of current
production functions has nothing to do with the possibility or impossibility
of a rising organic composition of capital. The latter is ensured whenever the
rate of accumulation exceeds the rate of growth of the labour force. A rise
in organic composition implies, perforce, a technical change in production.
Paul Cockshott
wpc@cs.strath.ac.uk
http://www.cs.strath.ac.uk/CS/Biog/wpc/index.html