[OPE-L:8601] Re: long term centers of gravity?

From: gerald_a_levy (gerald_a_levy@msn.com)
Date: Thu Mar 13 2003 - 10:59:04 EST

Re Rakesh's [8589]:

>  > In that
> > discussion,  Fred cited evidence from Marx contra the  
> > Kliman-McGlone treatment of PoP in their transformation article.
> > Don't you remember what came to be called the "smoking gun 
> > quotation" cited by Fred from Volume 3 about there being "only 
> > two reasons" for a change of PoP (see 4908 from February, 
> > 2001)? 
> Yes, and do not forget how Allin drew on the Keynesian idea of 
> lagged adjustment to make sense of Andrew's ideas. 

Keynesian ideas about lagged adjustment can't make sense out of
the K-M interpretation because -- as K-M repeatedly emphasized
-- they were advancing an interpretation of Marx, i.e. the K-M article
was an exercise in (their term) 'hermeneutics'.  Thus, _even if _
Keynesian ideas could be used to explain aspects of the real-world
dynamic process, it can't be claimed that that was Marx's perspective
on PoP *unless* one can prove that the Keynesian concept was 
anticipated by Marx *and* applied in the context of his theory of
PoP -- something I have seen *no* evidence  for.  Had K-M claimed 
that they were 'improving' or  'modifying' or 'advancing' or 'extending' 
or 'correcting'  Marx's theory,  then the terms of the debate would have 
been quite different.
One also has to recall that the K-M article explicitly claimed that 
"abstracting from the process of competition, we will show no
market price oscillations" (see Fred's 4924).  No changes in 
market prices -- yet, if I am hearing you correctly, you are claiming
something quite different, i.e. with continuous technical change there
are ongoing and inter-periodic changes in the productivity of labor
and market prices.   This perspective (i.e. your perspective) is worth
considering, but it can not be conflated with the K-M perspective 
on Marx's theory of PoP.   Also, the explicit ruling out of market
price oscillations by K-M rules out the Keynesian lagged adjustment 
mechanism that Allin proposed.

In solidarity, Jerry

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