To beat on a not yet dead horse, of the major problems in estimating a rate of profit is the denominator -- the capital stock. Most of the debates center around the measurement of total profits, but the capital stock is the truly difficult part to measure.
In recent decades, investment has been shifting from long-lived capital goods and buildings to capital goods of a very uncertain lifetime. I believe that even software is now suppose to be part of the capital stock, but I'm not sure. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
