From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Wed Sep 24 2003 - 06:47:44 EDT
Sraffa defines a basic sector of the economy, roughly equivalent to Marx's dept I as being made up of those commodities that directly or indirectly go into the production of every other commodity. It is pretty clear that where such a subsystem exists the rate of material surplus product there will set an upper limit on the rate of profit in the economy as a whole. Has anyone considered the situation which could exist where there is more than one basic sector in the economy? I dont know if such a circumstance actually exists in any economy but then then would no longer be a single eigen-value defining the maximal rate of profit. What do people think of this problem?
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