Accumulation and Technology

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Accumulation and Technology: Exemplar 1

Author:: Steindl, Josef

Scope:: Typoskript, 25 Blätter, mit zahlreichen handschriftlichen Anstreichungen

Year of publication:: 1984

Source material date:: [vermutlich um/vor 1984]

Language:: English

Description:: Marx, Kalecki, Rolle von Technologie/technischem Fortschritt für Akkumulation und Verteilung, technologischer Fortschritt und Arbeitslosigkeit.

Subject:: Marx, Karl (1818-1883) Kalecki, Michal (1899-1970) Technischer Fortschritt Produktivität Kapitalakkumulation Strukturwandel Arbeitslosigkeit

Note:: Exemplar 1 (Exemplar 2 mit anderen handschriftlichen Anmerkungen siehe AL00656753). Final version in: Trimestre Economico Nr. 207, Julio-Septiembre, 1985 Draft in: Economia Informa, Mayo, 1984

Related work:: Steindl, Josef: Acumulacion y Tecnologia. In: Trimestre Economico Nr. 207, Julio-Septiembre, 1985 Steindl, Josef: Acumulacion y Tecnologia. In: Economia Informa, Mayo, 1984

Topic:: Technology and education

JEL Classification:: O33 [Technological Change: Choices and Consequences, Diffusion Processes] E22 [Investment, Capital, Intangible Capital, Capacity] E24 [Employment, Unemployment, Wages, Intergenerational Income Distribution, Aggregate Human Capital, Aggregate Labor Productivity] E11 [General Aggregative Models: Marxian, Sraffian, Kaleckian] E12 [General Aggregative Models: Keynes, Keynesian, Post-Keynesian]

Shelfmark:: S/M.5.1

Access:: Free access

10 more and more elaborate. Can we draw the conclusion that the value of capital invested to the wage bill ( this corresponds to the "organic composition of capital?) or to the value of output ( the capital-output ratio which is more easily obtained from our statistics ) has risen? * * A remark has to be interjected here in relation to the interpretation of the organic composition of capital. It has been shown by Okishio and others ( including myself ) that the definition given by Marx ( labour embodied in capital + living labour ) makes his arguments incomprehensible while the altrnative definition ( labour embodied in capital + total labour, which corresponds to the capital-output ratio) renders them meaningful. I shall theredore use this second definition - the capital-output ratio - in preference to the first. f‘ i Marx was perfectly aware of the fact technical progress would cheapen not only the product but also the machine. But he never considered the possiblity that this influence which counteracted the effect of mechanisation on the capital-output ratio might go so far as to offset the effect completely and leave the capital-output ratio: where it was. And yet this is what in fact happened s "b i if we are to believe the historical statics of S.Kuznets and others. There is practically no evidence of a strong and persistent tendency of the capital-output ratio to rise in the time covered by our data ( in U.S. from the late 19thcentury ). The error of judgement could easily arise in the absence of statistical information relevant to this question.

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