[OPE-L:8499] Okishio Theorem 'repudiated'?

From: gerald_a_levy (gerald_a_levy@msn.com)
Date: Sun Feb 23 2003 - 17:39:37 EST

Re Rakesh's [8498]:

> ++Doesn't Brenner's argument that with a constant real wage 
> technical  change  only results in a declining average rate of 
> profit with a  defacto relapse in the productive forces depend 
> on the  assumptions of  bourgeois equilibrium economics, viz., 
> input=output prices as in  the comparative static Okishio 
> Theorem, now repudiated by its own  author? 

Okishio did not 'repudiate'  what has become known as the
Okishio Theorem (in his _CJE_ 2001 article): rather, he simply
acknowledged that it was a comparative statics result.  
And it has  been claimed by Fujimoto and Ranade that the 
Okishio Theorem also holds in a non-linear environment:

Solidarity, Jerry

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