[OPE-L:4208] Re: Re: RE: Part Two of Volume III of Capital

From: Duncan K. Foley (foleyd@cepa.newschool.edu)
Date: Sat Oct 21 2000 - 16:50:37 EDT

Rakesh, have you read Smith and Ricardo's discussion of competition 
and the formation of natural prices? The language is very similar to 
these chapters in Marx.


>First, Marx was not a long periodist such that an analysis in terms 
>of equilibrium UNIT prices (unit input prices=unit output prices) 
>makes any sense. Duncan has not responded to my textual evidence and 
>argument. Marx only said the changes in prices of production due to 
>changes in the general rate of profit would only be manifest in a 
>longer period, not that prices of production and in particular unit 
>prices of production would not change over the shorter terms.
Duncan K. Foley
Leo Model Professor
Department of Economics
Graduate Faculty
New School University
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messages: (212)-229-5717
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e-mail: foleyd@cepa.newschool.edu
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