Re: Estimating the surplus\Doug's question\Fred's comments

[Eubulides <paraconsistent@xxxxxxxxxxx>]

----- Original Message -----
From: "Mike Ballard" <swillsqueal@xxxxxxxxxxxx>

> What I've wondered about are the calculations
> concerning the depreciation of fixed capital in these
> times of rapid technological advance.  One never knows
> what's around the corner in terms of the
> revolutionizing of the means of production in this day
> and age.  So, a capitalist might figure that so and so
> much amount of fixed capital depreciates into so and
> so many commodities over say five years and then the
> piece of fixed capital is replaced.  But what happens
> when the technological advance is so rapid that the
> old calculation is off by years?

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In the non-short run, fixed capital isn't even fixed............it's as
malleable as wax, just like the institutions that make 'it' what 'it' is.

Ian