[OPE-L:4258] Re: Re: Re: Part Two of Volume III of Capital

From: Allin Cottrell (cottrell@wfu.edu)
Date: Tue Oct 24 2000 - 08:45:38 EDT

On Tue, 24 Oct 2000, Rakesh Narpat Bhandari wrote:

> These equilibrium habits are hard to break.

What is the assumption of an equalized profit rate, if not an
"equilibrium habit"?

> The input prices of production will depend on myriad factors
> in the period t-2 to t-1, including for example how much the
> luxury sector sold below value at t-1, how different the OCC
> was, the change in the rate of surplus value.

As I read your discussion, your conclusion ought to be: "We just
don't know whether or not Marx's two equalities hold.  To verify
that we'd have to put the inputs into prices of production, but
there's no principled way of doing that (since we can't assume,
even for the sake of argument, that the value table -- let alone
the physical table -- was the same in the period prior to the
one under consideration)."

To get Marx's conclusion, you'd have to exhaustively enumerate
all possible scenarios that meet your standard of "realism", and
show that the equalities held in each case.  More like Alice in
Wonderland than Capital.


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