Re: zero average profit

From: Allin Cottrell (
Date: Wed Jun 04 2003 - 16:58:22 EDT

On Tue, 3 Jun 2003, Paul Cockshott wrote:

> Ian Wright wrote:

> > Ah, I understand now. This was the flaw. I was conflating changes
> > in aggregate money holdings with profits. Therefore my previous post
> > does not apply to the profit rate but applies to aggregate money
> > holdings. I'll take your advice and read Kalecki on this. Thanks
> > for pin-pointing the source of my confusion. Are there any particular works
> > of Kalecki that you'd recommend?
> It is probably best to read the collection
> 'Essays in the dynamics of the capitalist economy' first and
> then read 'Theory of economic dynamics'

Agreed.  A good starting point is the essay "The determinants of
profits" in Selected Eassys on the Dynamics of the Capitalist Economy
(Cambridge U.P., 1971).


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