Viewing page 12 of 64

This transcription has been completed. Contact us with corrections.

12

-counter entropy processes such as plants storing of energy may be thought of as capital
-money an entitlement ((to use stored energy?))
((stored energy may be human energy [[strikethrough]]or[[/strikethrough]] i.e. labor or equipm. [[strikethrough]]but[[/strikethrough]] built w/ labor & resources [[which?]] must be extracted))
((this comes close to Marx's labor theory of value))
If I catch 2 rabbits I may eat one + the other [[I?]] may dry and save, or I may give it to you -
are risks in either method of storing capital - in latter case store it in form of a debt))
-labor our contrib (also [[manear?]]) to system
labor depends on will
[[strikethrough in left margin]][[?]][[/strikethrough in left margin]]


13

Jan 28- [[underlined]] liquid capital [[/underlined]] (working capital)

on an investment expect a profit or return, but profit may be s.th. other than money, for example pol. stability or altruistic satisfaction

neither the so-called 'communist' or 'capitalist' systems could get along w/out capital

many ventures [[strikethrough]][[?]][[/strikethrough]] our govn. has undertaken low-cost only as long as fossil fuels remain cheap

if we didn't think there was an unlimited supply of fuel, we would have used it differently

((value = labor input + other costs of extraction + scarcity + what else?))

[[underlined]] profit [[underlined]]
[[strikethrough]][[?]][[/strikethrough]]

Transcription Notes:
Some of the notes use ((note)) rather than (note), in case there is confusion with [[transcription markup]]