[OPE-L:5823] Re: commodity money

Paul Cockshott (wpc@CS.STRATH.AC.UK)
Fri, 12 Dec 1997 08:42:47 +0000

[ show plain text ]

Rakesh Bhandari wrote:
> I think the more illuminating application of the law of conservation of
> energy is not to the conservation of value but to the conservation of the
> real physiological energy expended by abstract labor in the amortization of
> fixed capital. That is, if the turnover time increases, no more and no
> less than the same physiological energy which would have been expended less
> intensively over a longer period must now be expended by abstract labor in
> that shorter period if it is to provide the service gratis to capital of
> preserving the value of fixed capital.
Are you really sure of this Rakesh?

It is equivalent to saying that processes which alter the organic
on a stock basis ( change in turnover time ) can not alter the organic
on a flow basis.

I am not aware of any studies in the literature that have demonstrated