Yea, a bridge the size and location of the Brooklyn Bridge seems like an
inherently public use-value, especially for those who live and work in
Manhattan and nearby Brooklyn.
Big chunks of the total wealth would best be public, not private property.
What proportion of the total wealth
You consume a bridge -- make use of it, wear it out
just a bit -- when you cross it. Or stand on it.
Or jump off it.
What proportion of total GDP is consumable ? How much is liquid ? What
proportion is in plant , equipment and bridges ?
Just full of questions.
CB
Carrol Cox wrote:
I don't think estimates of total wealth tell one much. What counts for
your purposes is the flow of material goods and services available at any
given moment. Or perhaps the productive capacity if everyone were employed,
but I doubt anyone could make even a wild estimate
Julio H wrote:
I cannot make an educated guess about net global income, so I'll just say
it's 30 trillion USD. Global capital can be now treated as an annuity,
which is very convenient because its present value formula is net income
flow/r. To calculate the present value, we discount net income
In one of the last paragraphs of my previous posting, I wrote:
Say, the labor force will grow at 4% per year in the future and per-capita
income at 1%.
I meant:
Say, the POPULATION will grow at 4% per year in the future and per-capita
income at 1%. Doug's figure is per capita, not per worker.
I'm glad that someone still remembers the CCC.
Jim Devine [EMAIL PROTECTED] http://bellarmine.lmu.edu/~jdevine
From: Daniel DaviesSurely this is the entire problem at the heart of the Cambridge CapitalControversy; you can't work out what the total amount of capital is withoutmaking an
Daniel Davies wrote:
Surely this is the entire problem at the heart of the Cambridge Capital
Controversy; you can't work out what the total amount of capital is without
making an assumption about the rate of profit and vice versa.
You caught me! Yes, you're absolutely right. My exercise is
Sorry if this has already been quoted.
...when the limited bourgeois form is stripped away, what is wealth
other than the universality of individual needs, capacities, pleasures,
productive forces, etc., created through universal exchange? ... The
absolute working-out of his creative
Julio Huato wrote:
Say, the labor force will grow at 4% per year in the future and per-capita
income at 1%. Then, the next best alternative is expanding global net
income at a rate of 5% per year. This growth rate is assumed constant
(since there's no risk, no volatility). So that's the global
Daniel Davies wrote:
Surely this is the entire problem at the heart of the Cambridge Capital
Controversy; you can't work out what the total amount of capital is without
making an assumption about the rate of profit and vice versa.
Yeah, but nobody cares about that anymore. It was an obsession of
Right, they should teach that marginal productivity theory created economic justice
because
everybody got rewarded according to their marginal product. Sraffa proved that it was
BS.
Samuelson and others attempted to refute him, but were unsuccessful. Solow said that
it
was a tempest in a
Of course, the current thinking is that it is human capital that is responsible for
most of
the productivity. Has anybody made a recent estimate of the aggregate human capital?
On Wed, Aug 04, 2004 at 12:06:08PM -0400, Doug Henwood wrote:
Another approach. According to the BEA, the value of
Wow . Thanks Julio. I have to study your calculation more to understand it.
What are the parts of this whole ? Like Max's Brooklyn Bridge. What
proportion is fictional (?) capital ? What proportion is owned by the
wealthiest individuals ?
by Julio Huato
I'm not sure I understand your
capital ( if I use that term correctly)being so attenuated from a result of
a labor process and from use-values ? Isn't owning it a way of indirectly
owning and controlling a major portion of wealth that is in the form of
non-fictitious capital ?
What proportion of total wealth is far attentuated
The BSers of the world have united. The revolutionary result is mainstream
economics..
Cheers, Ken Hanly
- Original Message -
From: Michael Perelman [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Sent: Wednesday, August 04, 2004 11:38 AM
Subject: Re: [PEN-L] What is the total wealth ?
Right
it is surprising what a man can understand when his pocketbook depends on
him not understanding it, or some such.
dd
-Original Message-
From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Michael
Perelman
Sent: 04 August 2004 17:38
To: [EMAIL PROTECTED]
Subject: Re: What is the total
ken hanly wrote:
The BSers of the world have united. The revolutionary result is mainstream
economics..
For many years I taught a course in ancient (greek) literature in
translation -- including the Odyssey and the Oresteia. One of the
problems was convincing the students that, yes, Homer (the
What is the total
wealth, networth, valueof all the economies of the world ? Do any
economists estimate this ?
What is total wealth
divided by the population of the earth ? If total wealth were divided equally,
what would be per capitanetworth ?
Charles
, August 03, 2004 4:10
PMTo: [EMAIL PROTECTED]Subject: What is the total
wealth ?
What is the total
wealth, networth, valueof all the economies of the world ? Do any
economists estimate this ?
What is total wealth
divided by the population of the earth ? If total wealth were divided equally
Charles Brown wrote:
What is the total wealth, networth, value of all the economies of
the world ? Do any economists estimate this ?
Wealth is tough. Income is easier. Acc to World Bank, per capita GDP
(PPP, with all Paul A's caveats incorporated by reference) in 2002
was $7,867.94. Cash money
some use-values I can use ?
Charles
^
Subject: What is the total wealth ?
What is the total wealth, networth, value of all the economies of the world
? Do any economists estimate this ?
What is total wealth divided by the population of the earth ? If total
wealth were divided equally, what
by Doug Henwood
Wealth is tough. Income is easier. Acc to World Bank, per capita GDP
(PPP, with all Paul A's caveats incorporated by reference) in 2002
was $7,867.94. Cash money, no PPP magic: $5,212.56.
^^
So, in a very abstract sense, if everybody had equal cut from GDP in 2002,
Charles Brown wrote:
So, in a very abstract sense, if everybody had equal cut from GDP in 2002,
everybody would be poor, but not real poor ? Or do I misinterpret this ?
It's roughly at the level of Mexico, PPP-wise.
Doug
Charles Brown wrote:
Ok I said it dumbly, but I'm trying to start a holistic thought like Levins
and Lewontin might advise. Is there enough wealth in the whole world to give
everybody a decent minimum ? Could we have a world minimum income/networth ?
I don't think estimates of total wealth
-
From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Doug
Henwood
Sent: 03 August 2004 21:41
To: [EMAIL PROTECTED]
Subject: Re: What is the total wealth ?
Charles Brown wrote:
What is the total wealth, networth, value of all the economies of
the world ? Do any economists estimate this ?
Wealth
Wealth is liberty... it is disposable time and nothing more.
Tom Walker
604 255 4812
by Carrol Cox
I don't think estimates of total wealth tell one much. What counts for
your purposes is the flow of material goods and services available at
any given moment. Or perhaps the productive capacity if everyone were
employed, but I doubt anyone could make even a wild estimate
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