>So The first point (and there are many things to be said here) is that
>however much surplus value (or net output) is projected to rise due to
>bringing on such cheaper equipment, it has to be sufficient to cover losses
>on that old capital brought into being under less productive conditions.
>The absolute growth of capital requires a rate of surplus value large
>enough to cover both the new investments and the devaluation of the
>existing capital.
Which I take has happened, since capitalism has survived for the last several centuries.
Doug