Re: [OPE-L] Frank Thompson's Homepage

From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Mon Apr 04 2005 - 05:10:15 EDT

I was interested in his paper on the falling rate of profit
included on his website. This is broadly pro-Okishio and 
argues that where both the organic composition of capital
and the real wage rise - and cause a fall in the rate of
profit this is only due to accumulation.

However I don't see how one can relegate the case brought
about by accumulation as an 'only' or a subsidiary case.

I think one could reverse the argument and say that since
one expect accumulation to be the norm in a capitalist economy
this will be the predominant case. The norm would be for
wages to represent a roughly stable share of GNP and for
accumulation to increase the stock of constant capital.
Under these circumstances the trajectory of profit will
be determined by demographics.


-----Original Message-----
From: OPE-L [mailto:OPE-L@SUS.CSUCHICO.EDU] On Behalf Of glevy@PRATT.EDU
Sent: 03 April 2005 13:12
Subject: [OPE-L] Frank Thompson's Homepage

< >

If you click on his 'brief' cv

<  >

you will see that most of his publications are available online
in pdf format.

In solidarity, Jerry

This archive was generated by hypermail 2.1.5 : Tue Apr 05 2005 - 00:00:01 EDT