[OPE-L:3836] Re: Re: Re: Rational expectations Marxism

From: Michael Perelman (michael@ECST.CSUCHICO.EDU)
Date: Mon Sep 18 2000 - 10:44:36 EDT

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clyder wrote:

> Does this not vitiate the whole premise of the formation of a uniform rate
> of profit?

Yes and no. Yes, if you are thinking in terms of a static equilibrium. No,
if you are thinking of a tendency.

> Is the idea of a transformation from values to prices of production still
> tenable
> if the valuation of fixed capital is indeterminate?

You are correct. The transformation problem [in the form of an algebraic
solution] does not make sense.

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321 E-Mail michael@ecst.csuchico.edu

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