Re: [OPE-L] Ajit's Paper on Sraffa and Late Wittgenstein

From: Allin Cottrell (cottrell@WFU.EDU)
Date: Wed Jun 07 2006 - 17:08:32 EDT

On Wed, 7 Jun 2006, Ian Wright quoted Paul C:

>> $/$ is simply a dimensionless scalar. Profit is always  profit
>> per unit time and expresses the exponential growth rate of capital
>> with respect to time. I don't see that this commits one to
>> an Austrian view.

and said:

> To be precise, in Sraffa's theory, profit is not explicitly
> profit per unit time. That's because the length of time of the
> period of production is undefined.

Sraffa's "period" is not explicitly mapped onto a definite slice
of calendar time, but surely that's beside the point.  The slice,
whatever it is, is necessarily greater than zero and finite, or
else the rate of profit is either undefined or zero.  Time
necessarily enters the dimensionality of the rate of profit even
if the period is left loose.

Allin Cottrell

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