BTW, does anyone know of any decent (or half-decent) measures of capital
*advanced* or *invested*, in flow-
of funds terms, as opposed to quasi-physical measures of the value of the
capital stock? Or if it is feasible to
construct such measures? What is needed is essentially the running
With the difficulties of unproductive labor and the depreciation question
that I have been harping on, don't we have to aceept that estimates of
profit rates are merely suggestive of the underlying reality? Also, do we
accept market prices as reflection of the level of abstract labor that a
Daniel, depreciation is important in calculating the RATE of profit, the
demoninator has to take into accound that old capital is not worth as much
as new capital. Or am I misunderstanding you?
On Thu, Oct 31, 2002 at 11:25:50AM -, Davies, Daniel wrote:
BTW, does anyone know of any decent
The cite for those not traveling to Chico in the near future is:
Mage, Shane H., 1963, The Law of the Falling Tendency of the Rate of
Profit: Its Place in the Marxian Theoretical System and Relevance to the
United States, Ph.D. Dissertation, Department of Economics, Columbia
University, New York.
Michael Perelman wrote:
If anyone wants to read Shane's dissertation, come to Chico. Our library
has it. It is quite good.
A detailed presentation of Mage's pioneering and sophisticated methodology
can also be found in our book (Shaikh Tonak), Measuring The Wealth
of Nations
Title: RE: [PEN-L:31642] RE: Re: Re: Sweezy's occ
what, me? ornery?
Jim Devine [EMAIL PROTECTED] http://bellarmine.lmu.edu/~jdevine
-Original Message-
From: Forstater, Mathew [mailto:[EMAIL PROTECTED]]
Sent: Monday, October 28, 2002 2:43 PM
To:
