Re: Re: Dependency theory debate in Latin America

2001-06-07 Thread Julio Huato
Louis' note on the dependency theory was also published on his list (marxmail.org). I've been debating this issue with Louis and others on his list. The note below is the response I posted on Louis' list. Louis Proyect [EMAIL PROTECTED]: As I have mentioned previously, the two countries in

Re: Re: Re: Re: Dependency theory debate in Latin America

2001-06-07 Thread Julio Huato
Louis Proyect [EMAIL PROTECTED]: the scholarly references are extremely useful. I knew that was going to please Louis. By the way, the name is Alejandro Dabat. Not Jorge Dabat. going back 500 years, the position one takes on them often define one's attitude toward contemporary questions

Re: query

2001-06-20 Thread Julio Huato
Louis Proyect [EMAIL PROTECTED]: In the July-August 1999 MR, a special issue on the state of the world, there are articles by James Petras on Latin America and Stanislav Menshikov on Russia that include interesting statistics on the wage share of national income and GDP respectively (might be

Re: Re: Calling an end to S. Africa thread?

2001-06-21 Thread Julio Huato
Louis makes assertions of fact as if he really knew: The SACP and the Mexican CP are [!] basically reformist outfits and if fundamental change comes to those countries, it will linked to forces to the left like the Zapatista movement or the constellation of left intellectuals and trade unionists

Re: query

2001-06-21 Thread Julio Huato
Louis Proyect [EMAIL PROTECTED]: Does anybody know of a single source for these kinds of statistics on a country-by-country basis? Basically, I am looking for wage earners share of GDP or National Income, whichever is more useful (if they are not in fact the same thing.) Yes. Look them up in

Re: Re: Re: Re: Calling an end to S. Africa thread?

2001-06-21 Thread Julio Huato
Michael Perelman [EMAIL PROTECTED]: Please, we are trying to avoid this sort of communication. On Thu, Jun 21, 2001 at 10:00:07AM -0400, Julio Huato wrote: Louis makes assertions of fact as if he really knew: The SACP and the Mexican CP are [!] basically reformist outfits

Re: Steel query

2001-06-27 Thread Julio Huato
Seth Sandronsky [EMAIL PROTECTED]: Can anybody direct me to cites and sources concerning the nominal and/or real wages of South Korean steelworkers versus U.S. steelworkers, and the most recent global rankings for steel exports to the U.S.? Check the US Bureau of Labor Statistics web site

Re: Re: Re: The Vulnerable Planet (was Re: suburbia)

2001-06-28 Thread Julio Huato
Louis Proyect [EMAIL PROTECTED]: Hernando Cortés on Mexico City in 1527: This noble city contains many fine and magnificent houses; [etc.] Tenochtitlán was the impressive center of the Aztec Empire, a despotism with a steep social structure. At the top, there was a military, religious, and

Re: Re: Re: Re: Re: The Vulnerable Planet (was Re: suburbia)

2001-06-28 Thread Julio Huato
Louis Proyect [EMAIL PROTECTED]: On Mexico's border, 'prosperity' has an ugly side By Diego Ribadeneira, Globe Staff NOGALES, Mexico -- Paradise lost. Those are the words many here use to describe this remote and beautiful corner where Mexico meets Arizona. A once-pristine region of deep blue

Re: Re: Re: Re: Re: Re: The Vulnerable Planet (was Re: suburbia)

2001-06-28 Thread Julio Huato
Louis Proyect [EMAIL PROTECTED]: Actually, Cardenas's party--which your interviewee tonight described as moribund--is very much in sync with Julio Huato. One supposes that its embrace of NAFTA, as opposed to the romantic Chiapas unabomber-type resistance to the imperialist penetration of Mexico

Re: Analytical Marxism

2001-07-05 Thread Julio Huato
Jim Devine [EMAIL PROTECTED]: The holy trinity of Roemer, Elster, and Cohen seem quite reductionist (back when they were doing Marxist stuff). The first two got into methodological individualism, reducing all social phenomena to individual decisions, while Cohen embraced another kind of

Re: Re: Analytical Marxism

2001-07-06 Thread Julio Huato
[EMAIL PROTECTED]: very good as a basis of historical analysis? Perhaps it is the productivity that comes from contradiction and ambiguity which gave Marxism its conceptual power. That'd be a dubious productivity. On the premise of logical contradiction and ambiguity anything can be

Re: RE: Re: Re: US Crude Oil Reserves for Selected States/Regions

2001-07-07 Thread Julio Huato
Mark Jones [EMAIL PROTECTED]: elsewhere. In 1999 Mexico downgraded its official reserve estimates by 20 Gigabarrels. The Mexican government, especially since Zedillo, has been claiming that the state monopoly, PEMEX, is in deep trouble. Fox has adopted a similar position. It is somewhat

Re: : Yet another take on Hubbert's peak

2001-07-09 Thread Julio Huato
Sam Pawlett [EMAIL PROTECTED]: At best, costlier energy means that less developed countries will not be able to industrialize the way the North has: through cheap energy. The only way will be for the North to decrease consumption. Because of acute capital shortage, countries of the South will

Re: Re: Re: : Yet another take on Hubbert's peak

2001-07-12 Thread Julio Huato
Sam Pawlett [EMAIL PROTECTED]: How are they [poor countries as they develop] to pay for it [limiting environmental damage]? World Bank loans? I try not to assume anything, but it's safe to say that LDC countries will follow the path of least resistance (i.e. the cheapest) towards

Re: Re: Re: Re: Re: : Yet another take on Hubbert's peak

2001-07-12 Thread Julio Huato
Michael Perelman [EMAIL PROTECTED]: Rich countries reduce pollution, in part, by exporting it to poor countries. If Third World countries get to grow, they are likely to be in a position to limit or negotiate this in better terms.

Re: Re: Re: Re: Re: : Yet another take on Hubbert's peak

2001-07-12 Thread Julio Huato
Doug Henwood [EMAIL PROTECTED]: Julio Huato wrote: IMO, the main obstacle to the development of capitalism in the Third World is not imperialism. What is? Doug To state it in general may not be particularly helpful. But here it goes. In my opinion, the main obstacle to the development

Re: RE: Re: Re: Re: Re: Re: : Yet another take on Hubbert's peak

2001-07-12 Thread Julio Huato
michael pugliese [EMAIL PROTECTED]: This sounds like the articulation of modes of production approach reviewed back in the late 70's in NLR by Aidan-Foster-Carter. Another part of what Julio says sounds like to me like the Peruvian economist touted by Mario Vargas Llosa, and the late Richard

Re: Re: Re: RE: Re: Re: Re: Re: Re: : Yet another take on Hubbert's peak

2001-07-12 Thread Julio Huato
Michael Pugliese [EMAIL PROTECTED]: I knew I should have phrased that differently! No. It's fair, Michael. And thank you for all the URLs. I have heard of de Soto before. Louis Proyect already honored me by associating me with him. But I haven't read him directly. Now I should.

Re: Imperialism and Environment

2001-07-15 Thread Julio Huato
Sam Pawlett [EMAIL PROTECTED]: Because it isn't happening [as they grow, poor countries are not showing will or mechanisms to improve the enviroment]. The most industrialized of the poor countries (S.Korea, Mexico, Brazil, Indonesia) are environmental disasters. I've seen it first hand. There

Re: Re: Re: Imperialism and Environment

2001-07-15 Thread Julio Huato
Michael Perelman [EMAIL PROTECTED]: The Nancy Stukey paper seems like another statement of the environmental Kuznets curve. Alan Krueger once presented this idea to the URPE meetings at the economics meetings. It was far from convincing. Some types of polluting behavior will indeed by cut

Re: Re: Imperialism and Environment

2001-07-15 Thread Julio Huato
Yoshie: The essence of imperialism may be best understood as what is necessary to ensure the global reproduction of social relations of capitalism, for which a variety of means -- including embargoes -- are used, depending on what changing circumstances demand. [Etc.] I find this posting very

Re: Re: Re: Re: Re: Imperialism and Environment

2001-07-15 Thread Julio Huato
Michael Perelman [EMAIL PROTECTED]: Julio, I do not have any absolute proof, but I feel fairly confident that most of the pollution caused by consumption in the United States occurs offshore. The extractive industries are terribly destructive. Toxic wastes are shipped abroad. Ugly industries,

Fwd: How to Stop Bush Amnesty of 3 Million Illegal Aliens

2001-07-17 Thread Julio Huato
This was sent to me off list by Michael Pugliese: From: Michael Pugliese [EMAIL PROTECTED] To: [EMAIL PROTECTED] Subject: Fw: How to Stop Bush Amnesty of 3 Million Illegal Aliens Date: Tue, 17 Jul 2001 07:29:11 -0700 Julio Huato, I lurk on alot of Right-Wing lists. Give these nativists

[ Imperialism and Environment

2001-07-19 Thread Julio Huato
Charles Brown [EMAIL PROTECTED]: CB: Wouldn't the WTO, IMF, World Bank, U.S. Treasury, NAFTA, NATO, US war machine, et al, combine to be this organ ? I can't respond to Charles Brown's posting right now. But I'd like to submit a note I sent to marxmail where I address issues that are very

Re: Re: [ Imperialism and Environment

2001-07-19 Thread Julio Huato
Jim Devine [EMAIL PROTECTED]: Marx praised Ricardo for seeing how capitalism is expansionist (M - C - M'). But the latter, unlike Marx, saw the problem -- including the falling rate of profit -- as arising due to external processes (scarcity of land raw materials). You are right about

Book this

2003-09-28 Thread Julio Huato
Oct 2, 2003: - National Call-In Day: Urge President Bush and members of Congress to support immigrants' rights. Make your toll-free calls any time on October 2 to the White House at 1-800-321-8268 and to Congress at 1-888-355-3588. - Meet with Congress - Rally and Picket. 2:30 pm. Join a UNITE

Re: Leftists and Electoral Politics Re: California recall results

2003-10-09 Thread Julio Huato
Jim Devine wrote: the real action has to involve the development of a mass movement of the left, something that will never come from the DP. Only when there's a working-class movement outside of the electoral arena will the political balance shift back in the human direction. ... which leads to

Re: Cancun

2003-10-13 Thread Julio Huato
In his reply to Doug Henwood's article in the Nation, Peter Bohmer makes points that are thought provoking. Confined to my bedroom due to a bad flu, I will share with you some of my misery in the form of lengthy comments on Peter's remarks. Forgive me. I won't happen again anytime soon. Peter

Re: Cancun

2003-10-13 Thread Julio Huato
to this, except -- as I said -- when helping the family farm and the small farmer goes against the interest of the landless rural- and urban working poor. In such case, I take view that one human being is as worthy as any other human being. Julio Huato

Re: Query: critique of production functions -clarification-

2003-11-04 Thread Julio Huato
What production function do we reject? And on what grounds? IMO, Anwar Shaikh's claim is that fitting an homothetic production function on aggregate data is arbitrary. As they'd say in econometrics, there's an identification problem because such data don't allow to single out the parameters.

Marx abstraction II [Was: Query: critique of production functions -clarificati

2003-11-05 Thread Julio Huato
Dear Matías: Nowhere did I say that the production function describes the value equation. I said instead that it refers to the material substratum of the capitalist value equation. The material substratum of value is use value. By physical inputs I mean concrete labor power and means of

My kind of woman

2003-11-11 Thread Julio Huato
A friend of mine says this is an obituary published in The Times-Picayune, New Orleans on 10/2/2003: Word has been received that Gertrude M. Jones, 81, passed away on August 25, 2003, under the loving care of the nursing aides of Heritage Manor of Mandeville, Louisiana. She was a native of

Re: the Clinton years

2003-11-15 Thread Julio Huato
Kenneth Campbell wrote: But this is lousy style: I wouldn't mind his style. What is unhelpful is his tactical misfiring. At this juncture, you have an administration whose policies, domestic and foreign, are exactly what the left is supposed to be against. Yet, Cockburn is busy criticizing

[no subject]

2003-11-15 Thread Julio Huato
Louis Proyect wrote: Well, who else is supposed to criticize the Democrats? Salon.com? The Nation Magazine? Bill Moyers? [clip] I think that the point of Counterpunch (and PEN-L) is to address the necessity of transforming the system. We are facing a downward spiral in bourgeois politics that

Re: the Clinton years

2003-11-15 Thread Julio Huato
Yoshie wrote: Barring another terrorist attack to the magnitude of 9.11.01, Bush is finished [clip] The Democratic victory in the 2004 presidential election is virtually certain. What are socialists to do, now that George W. Bush is losing the war and will be losing the election in 2004? Remind

Re: Krugman on good news

2003-11-30 Thread Julio Huato
Paul Krugman wrote: And there are signs of an economic takeoff in at least parts of India [...] every one of those development success stories was based on export-led growth. Then Michael Pollak made the following remark: India wasn't. Exports are 10% of its economy, like the US. India is a big

Re: Winners and losers

2003-11-30 Thread Julio Huato
In his column, Paul Krugman deals with the alternatives facing the Third World. Louis Proyect attacks him (and others) on the grounds that they cannot accept [...] the proposition of an alternative to capitalism. I wish Louis gave us a clearer idea of what he means by this. The fact is that no

Rumsfeld

2003-12-03 Thread Julio Huato
The New York Times December 2, 2003 U.S. Sees Lesson for Insurgents in an Iraq Battle By DEXTER FILKINS and IAN FISHER SAMARRA, Iraq, Dec. 1 — American commanders vowed Monday [clip] Speaking at the same meeting, Defense Secretary Donald H. Rumsfeld said such attacks were being mounted by a

Re: Estimating the surplus - Turkey (Cem Somel)

2003-12-04 Thread Julio Huato
Doug Henwood wrote: I don't see how the intelligent use of bourgeois stats and categories doesn't accomplish the same task. With a suitable definition of intelligent use, it must accomplish the same task. But then we cannot easily communicate the results to orthodox Marxists with no or little

Re: Question re basics

2003-12-15 Thread Julio Huato
Joanna Bujes wrote: What's tougher than that is to be able to stop thinking while remaining conscious and highly sensitive. (not claiming to have achieved that myself...) I once heard a sport psychologist calling this state of mental awareness being uptime. I would call it being outside -- i.e.,

Re: Mexico sees modest gains from Nafta

2003-12-17 Thread Julio Huato
Doug wrote: You average leftist would say that this is too sunny a view - that NAFTA has been destructive. Any comments on the report from people familiar with Mexico? I read the summary. I'll try to comment on it soon. I'd be interested to know Valle's take as well. Julio

Re: Unsubscribing---thanks...

2003-12-17 Thread Julio Huato
Joanna, Hope I didn't make things worse with my silly posting on Monday. I read PEN-L mail on the archives, from new to old. That's not good -- I know. I replied to your note on Question re basics without knowing the context or what the thread was about. Sorry. No wonder Ralph felt

The left in the presidential election

2004-01-19 Thread Julio Huato
The last few weeks haven't been nice to me. A gut infection landed me in hospitals, once in the Midwest and once in Mexico. So I've been unable to follow the discussions in the lists. These are my belated views on the electoral strategy of the U.S. left recently discussed here: We need to remove

Re: The economy - a new era?

2004-02-11 Thread Julio Huato
Michael Perelman wrote: That was the big fight during the New Deal. One wing of the Democratic Party called for trust busting; the other, for organizing the potential of larger economic formations. Both sides have anti-progressive consequences. Of course they do, without progressive

Re: Bhagwati's defense of Mankiw

2004-02-16 Thread Julio Huato
Ahmet Tonak wrote: Any reaction to the following op-ed defense of Mankiw by Bhagwati. I observe two flaws: 1) a complete misunderstanding of competition; Bhagwati attacks Kerry because, Bhagwati thinks, Kerry is unable to see the connection between outsourcing of jobs and the improve[ment of]

Re: Bhagwati's defense of Mankiw

2004-02-16 Thread Julio Huato
Doug Henwood wrote: He's also very critical of the U.S. use of the WTO to tighten intellectual property restrictions and of the confusion of capital account liberalization with trade liberalization. He's not a wind-up free-trader. Jagdish Bhagwati wrote [my remarks in brackets]: The starvation

Re: Simple Question please.

2004-02-20 Thread Julio Huato
Hari Kumar wrote: gini I understand as a coefficient allowing some guess at level of equality. What is a Hefindahl please? Thanks, Hari The Herfindahl is the sum of the squared market shares. H = 1 means monopoly. H = 1/n (for n very large) means a perfectly competitive market. Julio

[no subject]

2004-02-26 Thread Julio Huato
Gassler Robert wrote: The problem is that concepts like heteroskedasticity refer to samples and how well they reflect the total population. Here we have the total population of US presidential elections, so we do not need statistical inference. Actually we do need statistical inference. We do

Re: Comments on an Amy Wilentz column

2004-03-02 Thread Julio Huato
Louis Proyect's comments on Wilentz's article in the Nation are very persuasive. However, I do disagree with Louis on the following: When you accept Bill Clinton's right to interfere in Haiti's internal affairs on a good will basis, the door is also opened to George W. Bush's more openly hostile

Re: the poverty of pundits

2004-03-02 Thread Julio Huato
James Devine wrote: I wonder if Paul Krugman is embarrassed to appear on the same op-ed page as this fellow: He should... the same way we all should feel embarrassed for sharing the same federal administration with David Brooks. It may be as hard for us to alter the White House's policies as for

Re: Third Time is the Charm

2004-03-09 Thread Julio Huato
Louis Proyect wrote: This is now the 3rd list that DMS has departed from. [Etc.] It's not appropriate to say things about David now that he has left the list and cannot defend himself on it. It's Michael's prerogative to ask us to follow certain guidelines and exclude us from the list if he so

Black's efficient market

2004-03-09 Thread Julio Huato
dd wrote: Fischer Black used to call the stock market efficient because in his view it was almost always between 50% and 200% of fair value (he wasn't joking either; this was seriously his view and he nevertheless believed that the stock market was informative and regarded himself as an efficient

Re: Marx and the Civil War

2004-03-10 Thread Julio Huato
Professor Michael Perelman wrote: While I'm replying, I meant to tell Professor Perelman [MY GOD! EVEN MY STUDENTS DON'T CALL ME THAT!!!] :-) Julio _ Charla con tus amigos en línea mediante MSN Messenger:

Re: Corporations

2004-03-12 Thread Julio Huato
You guys are too quick. I'll be repeating points others made while I was typing or sleeping. Here it is anyway. * * * David B. Shemano wrote: What is that word Marxists like to use to describe unreal objects that people think are real? Fetish? You see a bogeyman called a corporation. You

Re: Observations on the Socialist Scholars Conference

2004-03-14 Thread Julio Huato
Louis Proyect wrote: To begin with, there was absolutely nothing about Venezuela or Haiti--two of the more important hot spots in the world today. I'd have loved to hear the discussion on Organizing in the U.S. South, but I wasn't able to. Did anybody on the list go to this meeting yesterday

Re: Historical accuracy

2004-03-17 Thread Julio Huato
Louis Proyect cites Marx: Where the working class is not yet far enough advanced in its organization to undertake a decisive campaign against the collective power, i.e., the political power, of the ruling classes, it must at any rate be trained for this by continual agitation against this power

Re: Dollars Per Vote: Green vs. Democratic (Historical accuracy)

2004-03-18 Thread Julio Huato
Yoshie Furuhashi wrote: It costs a left-wing candidate more to run in the Democratic presidential caucuses and primaries than to run as a Green candidate in the general election. Howard Dean spent over $40 million, did not win a single primary, and got forced out on February 18, 2004 [etc.] I

Re: Mark Jones Was Right

2004-04-10 Thread Julio Huato
soula avramidis wrote: it is like when it becomes more expensive to draw oil out of the ground, going for control of high reserves of cheaply mined Arab oil (1 dollar per barrel) makes for a hell business, both in itself and insofar as you strangle others with it. Given what they know now, is it

Re: Mark Jones Was Right

2004-04-10 Thread Julio Huato
Louis Proyect: I am simply opposed to the notion that the Earth can sustain the life-style of a New Jersey suburbanite. Just project 10 billion people with Jeep V8s, central air conditioning, lawns, a TV in every room, beef 5 times a week, etc. Simply can't be accomplished under any social

Re: Mark Jones Was Right

2004-04-11 Thread Julio Huato
k hanly wrote: The Japanese know that access to energy resources is essential for their capitalists and the US knows the same. Access to food is essential for people in Brooklyn. There's some food stored in supermarkets, grocery stores, etc. But usually we don't steal it. We buy it at the

Re: Mark Jones Was Right (Paul Phillips)

2004-04-11 Thread Julio Huato
I'd love to reply to Paul's detailed argument. I regret that he decides not to engage. Hopefully we'll continue the conversation at another time. Julio _ Charla con tus amigos en línea mediante MSN Messenger:

Reply to ravi

2004-04-12 Thread Julio Huato
ravi wrote on another thread: being opposed to a notion means that you think the notion is incorrect. that statement has meaning (in discourse) irrespective of how one expresses one's opposition. of course, i could continue in your style and list the positions or responses i wish to restrict you

Reply to Charles Brown

2004-04-12 Thread Julio Huato
Charles Brown wrote on a retired thread: CB: Fossil fuels are such a strategic resource in the world's technological regime, that even if their depletion will occur in 2115, humanity might start to modify radically our mode of production now in order to deal with the loss over one hundred years

Re: capitalism's laws of motion

2004-04-12 Thread Julio Huato
(My last posting for a while, Mike.) James Devine wrote: Capitalism always involves a contradiction between capital's interest (the long-term interest of the capitalist class as a whole) and those of competing individual capitalists. (One might liken this contradiction to the public goods

Re: Profit making under capitalism

2004-04-12 Thread Julio Huato
k hanly wrote: Marx's hypothesis is surely not that it is a voluntary market transaction but a forced transaction because the capitalists own the means of production and the workers do not and have no means of access except through wage slavery. They cannot themselves produce and support

Re: Profit making under capitalism

2004-04-17 Thread Julio Huato
MICHAEL YATES wrote: What exactly about capitalism today is progressive? Progress under capitalism is not tidy, but we can tell grain from hay. The most significant, in-the-face progressive happening that comes to my mind is that, in the last 2-3 decades, *capitalist production* in central India

Getting out every vote

2004-04-18 Thread Julio Huato
My note in brackets. Let's carpet-bag this summer in the swing states. Florida has nice beaches and people who could get Bush out of the White House. - Julio The Nation Getting Out Every Vote by JEFF BLUM [posted online on April 8, 2004] How can progressives substantially increase the number

Oil shock? - a thought

2004-05-14 Thread Julio Huato
Paul Krugman has been worried lately about a possible oil shortage: http://www.nytimes.com/2004/05/14/opinion/14KRUG.html?th. He focuses on the recessionary and inflationary impact on the U.S. But China should be a bigger concern (I mean, under the radical assumption that one Chinese is just as

Re: imperalist booty

2004-05-07 Thread Julio Huato
Tom Walker wrote: We need to be careful about three distinct relationships here that tend to get confused one for another: wealth, value and capital. Perhaps the confusion results from the fact that they can be readily exchanged for each other. Perhaps capitalism results from the fact that they

Re: imperalist booty

2004-05-06 Thread Julio Huato
Tom Walker wrote: But capital is all about the past: dead labour. Or so the Germans would have us believe. Those who appropriated the most dead labour in the past are entitled to appropriate more dead labour, compounded, in the future. Doesn't matter if you appropriated it there then and here now.

Re: High tech is skin-deep in India

2004-05-15 Thread Julio Huato
Michael Perelman wrote: Sometime ago, I believe on pen-l, I questioned Brad DeLong's insistence that increasing aggregate income meant that the people were doing better, whether in India or China. I had not seen an indication that the BJP was in trouble before the election. India was, by all

Re: a non-Jones theory of oil prices

2004-05-18 Thread Julio Huato
Michael Perelman wrote: Of course, Mark Jones is ultimately correct. At some point natural conditions will drive up the price of hydrocarbons. The only question is about timing. My impression is that Mark Jones' argument was about the timing of the event. Who would deny that as a resource is

money, sex, happiness

2004-05-30 Thread Julio Huato
pooled cross-section equations in which it is not possible to correct for the endogeneity of sexual activity. The statistical results should be treated cautiously Right, chicken and egg... because we happy people tend to attract and have significantly more sex than the grumpy ones. :-)

Re: Hubbert's peak

2004-06-03 Thread Julio Huato
Let's be clear: Louis Proyect and I are the only list members who can legitimately claim expertise in oil forecasting. The rest of you are just a bunch of amateurs. But that's okay. Louis will continue sharing his wisdom by Lexis-Nexing an endless stream of well selected journalistic articles,

Deflation?

2004-06-17 Thread Julio Huato
Michael Perelman wrote: how much of an interest rate hit, can the economy take without reeling. I looked at the Flow of Funds. From 2001Q1 to 2004Q1, total outstanding debt in the U.S. grew at 1.8% quarterly. I suppose debt tends to grow faster than the GDP, but isn't this too brisk a pace

Re: Deflation?

2004-06-19 Thread Julio Huato
Doug Henwood wrote: H, I think it's worth testing the hypothesis that when PEN-L gets a thread going on economic vulnerability, the economy is about to accelerate. This is a good real-time test. Good point. There's an upswing. Some financials will get fixed and debts will be rolled over.

Re: What is the total wealth ?

2004-08-04 Thread Julio Huato
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 of that.

Re: What is the total wealth ?

2004-08-04 Thread Julio Huato
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.

Re: What is the total wealth ?

2004-08-04 Thread Julio Huato
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