Re: [OPE-L] Michio Morishima, 1923-2004

From: glevy@PRATT.EDU
Date: Mon Mar 28 2005 - 10:04:27 EST

Hi Paolo,

> It is interesting to note that the full title of the chapter is The
> Reserve  Army and the falling Rate of Profit, which indicates that he
> does not  separate the two issues. Marx, as we can recall does not
> have the  falling rate of profit in his discussion of the general law.

The issues of the IRA and the LTGRPD are separated in Marx's
_presentation_ but they are inseparable to the extent that an increase
in the IRA and a tendencial fall in the general rate of profit are both
from Marx's perspective an expression of the increase in the
OCC which is itself fundamentally an expression of an increase in
the social productivity of labour.  Yet,  Morishima's formalization
fails to account for how the same mechanism that brings forth a
tendencial fall in the rate of profit also manifests itself in a
long-term tendency for the rate of surplus value to rise.  Given
the mathematics used by Morishima this is a 'result' which can
not be replicated:  too many 'unknowns'.   This is the danger inherent
in Morishima's mathematical efforts:  an understanding of Marx's
theory is obscured because of the formal requirements for solving his
system of equations.

In solidarity, Jerry

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