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"We see, firstly, with fixed capital that it enters into the labour process
completely, but enters into the valorisation process only partially to the
exgtent that it is used up as wear and tear. This one of the main factors
working towards the cheapening of commodities through the employment of
machinery; thus TO A CERTAIN DEGREE towards the increase in relative surplus
value. At the same time, however, it is a cause of the decline in the rate
of profit."
Karl Marx, "Labor Process and Valorisation Process" Economic
Manuscripts 1861-1863
"It is therefore clear that in competition, once the monopoly in the new
invention has come to an end, the price of the product is reduced to its
production costs."
Karl Marx, "General Law of the Faill in the Rate of Profit." Economic
Manuscripts 1861-1863
You're in good company, Michael.
--- Original Message -----
From: "michael perelman" <[email protected]>
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