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[563-8] Dyno: After the introduction of new machinery, the most important ramification is that
“the innovator has to lower the price to get room in the market for his
increased output.” However, even with the price cut, the products are still
sold above the individual value and still make an extra surplus-value. With
that being said, every capitalist has an incentive to add new machinery, and in
the short run it will all work out, but in the long run the extra surplus value
will be competed away. Finally, and most importantly, we must realize that
“the extra surplus-value comes from the workers who employ the machine and not
from the machines themselves or perhaps workers who are replaced by the
machine.” |
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