[OPE-L:7963] Re: Re: Re: Re: relation of value to organic composition of capital

From: Michael Perelman (michael@ECST.CSUCHICO.EDU)
Date: Thu Nov 07 2002 - 12:51:15 EST

I agree with you 100%.  My question had to do with the consequences of
debating the minutae.

On Thu, Nov 07, 2002 at 09:46:58AM -0800, Rakesh Bhandari wrote:
> Michael P writes in 7959:
> >Could someone tell me what the political consequences of this question
> >might be?
> Michael, if my interpretation is correct, then Marx invented the OCC 
> in order to abstract from those upward changes in the VCC that result 
> from the depletion and consequent rising prices of natural resources, 
> i.e., from organic chemistry. Which is not to say that the VCC may 
> not rise and the rate of profit fall for quasi Ricardian reasons of 
> organic chemistry as you and Jim O Connor have long argued. It is to 
> say that Marx meant to abstract from them in his thought experiment.
> Yours, Rakesh

Michael Perelman
Economics Department
California State University
Chico, CA 95929

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

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