$M/L$ determinations from the literature. We then compare the $M/L$ values for the intermediate-redshift cluster galaxies to those for the local comparison sample to obtain a direct measure of the $M/L$ evolution of elliptical galaxies.

[lclc]{} [ I & $\pm 0.003$ & effect of uncertainties in $\Omega_{\rm m}$ and $\Omega_{\Lambda}$ at $z \approx 0.5$ & \[s:intro\]\
II & $\pm 0.026$ & accuracy with which the SBF and Cepheid distance scales have been aligned & \[ss:dist\]\
III & $\pm 0.037$ & accuracy of the Cepheid distance scale for local galaxies & \[ss:dist\]\
IV & $\pm 0.009$ & cosmic variance in $H_0$ on the scale $z {\lesssim}0.1$ & \[ss:dist\]\
V & $\pm 0.023$ & random uncertainty in $H_0$ due to finite sample sizes & \[ss:dist\]\
VI & $\pm 0.020$ & difference in results from different dynamical modeling approaches & \[ss:MLerrors\]\
]{}

The layout of this paper is as follows. Section \[s:local\] discusses the compilation of the local comparison sample of galaxies with dynamically inferred $M/L$ values. Section \[s:MLevolution\] compares the $M/L$ values for the galaxies in the intermediate-redshift sample from Paper I to those from the local compilation. This yields $d \log (M/L) / dz$, which is compared to the FP evolution 