<[email protected]> wrote: > I take LTFPR (long term fall in profit rate) to be based on an economy that > doesn't have any scientific or technical progress. > > Scientific and technical progress cause productivity to increase and as a > result the value of existing capital to decrease (technological > depreciation).
I agree: I think that when the machine-producing sector (department I) started seeing rapid technical change, that created a major counter-tendency to the LTFPR tendency. -- 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
