I'm not sure what the below is in response to, but briefly: Marx generally thought that market prices tend to fluctuate around equal-profit rate prices -- classical equilibrium prices. (I would dispute your reading of the end of Vol. II and Ch. 9 of Vol. III if I had time.) Such prices have theoretical interest to me. They do not exert any force -- they are the outcome of the workings of various forces. Real magnitudes determine derivative magnitudes like averages, not v.v.
All of this has zip to do with the "equilibrium" -- stationary -- prices and the associated "equilibrium" profit rate of simultaneism that we critique. Do not confuse the two. The latter is of no interest whatsoever. I have no position on the rest. I'd need to study the question carefully. Andrew Kliman -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of Rakesh Bhandari Sent: Wednesday, March 13, 2002 5:44 PM To: [EMAIL PROTECTED] Subject: [PEN-L:23942] Re: Re: marx's proof regarding surplus value and profit Since Andrew said he wasn't getting all his incoming messages, I shall repost the following questions (of course if John E or Manuel or Gary or Mat has answers, I would appreciate it): And one can reply: well didn't Marx himself make such an assumption of classical natural or equilibrium prices in his own reproduction schemes and transformation analyses? Do equilibrium prices not exert *any* force at *any* point in the course of capital accumulation or the business cycle? Are they of *no* theoretical interest *whatsoever*? Isn't it towards an equilibrium point based on the new adopted technology that the economy is moving in Schumpeter's recession phase of the cycle? Or do Andrew and Alan Freeman reject this Schumpeterian assumption just as it is rejected by Alan's father Chris Freeman, perhaps the leading economic student of science and technology in second half of the 20th century? Rakesh ps Andrew I'll copy your paper at the library since I won't be able to read it.
