Me:
Isn't it worth getting some indication of the role of circulating (M) as
well as fixed (K) capital, roughly, that (change in) ROP = (change in)
K/Y+M/Y+S/Y?
Jim:
fine, do it. But I think that the rate of profit on fixed capital is more
important in determining the ratio of net investment to
I am on a poor telnet connection, so I will be brief. Marx said that
mechanization began in consumer goods and then moved to producer goods.
In the first stage K/L should autmatically increase; in the second, it is
indeteriminate.
On Sat, Dec 29, 2001 at 08:38:06PM -0800, Devine, James wrote:
I am on a poor telnet connection, so I will be brief. Marx said that
mechanization began in consumer goods and then moved to producer goods.
In the first stage K/L should autmatically increase; in the second, it is
indeteriminate.
I think Marx did think it was indeterminate, strictly speaking,
Bill Burgess writes: I wondered about Jim D. not including circulating
constant capital (basically materials) in explaining the change in the ROP,
especially since this is an area there have been productivity gains.
I wrote: shouldn't an improvement in inventory management techniques help
labor
