And that isn't going to last, take advantage of it while you can, America.
You can build domestic industry and jobs without this dumb shit. It's just going to reduce the purchasing power.
this post was submitted on 03 Oct 2024
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chapotraphouse
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I think someone else referred to this definition before. But
"Capital (goods)" = "those durable produced goods that are in turn used as productive inputs for further production"
No, that's the marginal cost.
What's more, a Marxist "all else equal" analysis would say the $75 difference in cost is ultimately a labor cost + profit. One big reason why Russia can build artillery cheaper than the US is simply due to its limited number of middle men between raw materials and deployed weapon.
That inflates the raw labor cost (the US MIC procurement system is a jobs program that rewards inefficiency) and extracts an admin fee at every step.
But that price differential isn't capital. It's cost.
Am example of capital would be the mineral gathering operation used to create explosives. Another would be the machinery to create the bomb housing. Another would be the training school for the engineers who assemble the bombs.