----- Original Message ----- From: "Mike Ballard" <[EMAIL PROTECTED]>
> 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? ================ 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
