>>> [EMAIL PROTECTED] 03/28/01 02:21PM >>>
>Louis,
> Declining rate of profit? Oh, so you really
>are into all that OPE-L stuff after all, eh? Do
>you buy the Kliman-McGlone counterattack
>against the Okishio Theorem to save the idea,
>or do you prefer Fred Moseley's more empirical
>approach with its special categorizations of labor?
>Barkley Rosser
Actually, I prefer not to get involved in these sorts of arcane debates
abstracted from the real economy. What I am much more interested in is how
the airline industry, which accounts for some 30 percent of the US export
market, ran into a profit crunch in the late 1960s. This has to do with the
price of fuel, the investment in 747s, etc. So I suppose that I am
something of a Moseley-ite if push comes to shove. In any case, I start out
with the premise that profits did hit a brick wall. When I sit down to
write my analysis, I will probably delve into Ernest Mandel for a
theoretical orientation. He stands head and shoulders over anybody else who
has done economics in the past-WWII period.
(((((((((((
CB: Anyway, following Marx on the law of the tendency of the rate of profit to fall
does not entail agreeing that there is a "transformation problem" with Marx's theory,
does it ?
