Boffy's Blog

If things were viewed from the perspective of the economy as a whole – and increasingly that means a global economy – rather than from the perspective of each individual firm, then it would be clear that the savings that are achieved in the cheapening...

If wear and tear of machinery and other fixed capital is reduced, this reduces the price of commodities, because a part of that price is made up of the value of the wear and tear, and which is accumulated in depreciation funds, to replace that fixed...

Marx then sets out a series of what today would be called economies of scale. The modern large factory enjoys all the benefits that arise from the rise of co-operative labour. The cost of the motive power provided, and scope on which it can then operate...