[OPE-L:3565] Re: Re: RE: money-capital as initial givens

From: michael a. lebowitz (mlebowit@sfu.ca)
Date: Thu Jul 06 2000 - 01:04:34 EDT

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At 07:43 PM 6/30/2000 -0400, fred wrote:
>A quick reply to Andrew T. (3545).
>Andrew, thanks for you kind words. I agree that capitalists can use
>credit to initiate the circuit of capital. But I do not agree with
>Kalecki that capitalists earn what they spend. I agree instead with
>Marx that what capitalists earn is produced by the surplus labor of
>workers. What about you?

        I think the point of Marx and Kalecki, rather, is that what capitalists
*realise* (of the surplus value extracted from workers) is determined by
what they spend.

        in solidarity,
Michael A. Lebowitz
Economics Department
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6
Office: Phone (604) 291-4669
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Home: Phone (604) 872-0494
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