Shane Mage wrote: > "inherently boring" perhaps, but from what I have seen from Kliman the > basis of his argument--that the value of fixed capital, and therefore the > value of capital consumed in the production process, is the labor-time > embodied by the money (or money-equivalent) invested in the (expanded or > simple) reproduction process of capital and *not* the labor time actually > expended in the physical production of the capital goods themselves--was > lifted intact from my demonstration (presented in my 1963 dissertation on > The Falling Tendency of the Rate of Profit) without any acknowledgement. > Was this also true of his ASSA paper?
no, since he did not present his actual research on this subject. Instead, it was all about the bad treatment his work has allegedly received by other leftist or radical political economists. As I understand it, Kliman responds to a standard criticism of Marx's original "transformation" problem. Marx converted cost prices (c + v) stated in value terms into prices of production with a distribution of surplus-value according to an equalized profit rate (r), so that the POP for each sector = (c+v)*(1+r). The (very old) criticism is that the (1+r) should be multiplied by cost-prices that are stated in _price_ terms, not value terms: shouldn't the sale price of newly-produced widgets be equal to the purchase price of widgets used up in production? Here my interpretation may be wrong, but Kliman responds to that question by saying "no." The widgets were purchased at a different point in time than the widgets that were sold, so the prices should be different. I really don't know more about this, and I sorta feel like knowing more might get me sued ;-). Disequilibrium processes are okay by me, but if the input price and the output prices are different, there's no reason to assume that the profit rate is equalized between sectors. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
