What do you mean by "show[ing Marx's] ... 'falling rate of profit' scenario works out in practice. No-one has yet done so, at least not in the orthodox framework?" You mean empirically?
Ahmet
Devine, James wrote:
I only read the first two of this series (at http://www.wsws.org/articles/2004/apr2004/ps2-a07.shtml). The author, Nick Beams is fine, but he assumes that Marx had actually shown that his "falling rate of profit" scenario works out in practice. No-one has yet done so, at least not in the orthodox framework.
(I have an explanation, but it's not in the orthodox framework since it involves so-called "microfoundations.")
------------------------ Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~jdevine
-----Original Message----- From: Mike Ballard [mailto:[EMAIL PROTECTED] Sent: Sunday, April 11, 2004 5:48 PM To: [EMAIL PROTECTED] Subject: [PEN-L] A critique of Paul Sweezy...
I received this message from a fellow worker. I thought those interested in progressive economics might find the critique of interest.
Regards, Mike B)
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http://www.wsws.org ran a four-part series on the legacy of Paul Sweezy this past week, basically a critique of his ideas from a Marxian perspective, esp his discarding of Marx's crisis theory. Aside from the Trot garbage, some interesting stuff.
Jeff
===== "Objectivity cannot be equated with mental blankness; rather, objectivity resides in recognizing your preferences and then subjecting them to especially harsh scrutiny - and also in a willingness to revise or abandon your theories when the tests fail (as they usually do)." - Stephen Jay Gould
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