Marx repeated this idea in several places. Here is the ref from
Capital 1.
[The] value [of a unit of capital] is no longer determined by the
necessary labour-time actually objectified in it, but by the
labour-time necessary either to reproduce it or the better machine
... When the machinery is first introduced into a particular
branch of production, new methods of reproducing it more cheaply
follow blow upon blow. [Marx 1977, p. 528]
-- Michael Perelman Economics Department California State University Chico, CA 95929Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu