Title: Re: [PEN-L:31644] RE: Sweezy's occ
"this approach can never give a
theoretical groundingto the "Law of
the Falling Tendency of the Rate of Profit"
because under it there is no necessity for the productivity of labor to tend to increase less rapidly than
capital intensity.
Shane
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
Title: RE: [PEN-L:31728] Re: RE: Sweezy's occ\Shaikh
E. Ahmet Tonak writes:
Thanks for the appreciation for our work. It was hard work! I'd like to address Jim's objection to our inclusion of the wages of unproductive labor should be included as a positive number in the numerator of the rate
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
Shane correctly says that K requires measurement. Several problems occur
in that regard. The most interesting for me is a point that I have been
bringing up for some time -- depreciation. What is the value of a
one-year-old capital good? New technology or market conditions may make
it
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:31629] RE: Re: Sweezy's occ
I hate to be unacademic, but does it really matter? Most of the measures of the OCC move together. If the point is to understand the so-called transformation problem, then all that's important is that different sectors have different technologies.
Thanks, Shane. Was your doctoral dissertation ever published, by the way
(in part or in whole). Shaikh used to refer to it all the time.
Jim D.--I think it does matter for a number of reasons and you are being
ornery.
Mat
-Original Message-
From: Shane Mage [mailto:shmage;pipeline.com]
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
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