Re: [OPE-L] fully automated economy and capitalism

[Dave Zachariah <davez@xxxxxx>]

on 2007-11-28 19:16 Jerry wrote:
> A quantity of what - "socially necessary robot time"?
Possibly, especially if there were universal robots as ultimate input of
every good or service. Alternatively it could be energy or fuel that the
robot economy runs on.
> When you say that this emerges as the "basis of economic value",
> do you simply mean *exchange value*?
No, I think economic value is a more general concept. It is a scalar
that allows agents in an economy to directly compare the cost of
different goods and services. They may not be exchanged on a market with
relative market prices, i.e. exchange values, or even produced for the
comparison to be useful.
> So, robotic production time will determine the e-v of "commodities"?
Yes, that is the hypothesis. This is not as speculative as it may seem;
see Ian Wright's paper on the emergence of the law of value
(http://65.254.51.50/~wright/sce.pdf).

//Dave Z