Re: [OPE-L] Marx on invisible hand

From: michael a. lebowitz (mlebowit@SFU.CA)
Date: Mon Dec 04 2006 - 14:26:45 EST

And OURS./m

At 14:36 04/12/2006, you wrote:
>Insofar as Marx demonstrated that the rate of profit would tend to
>decline while the rate of surplus value is constant, this is
>definitely a critique of Ricardo's 'falling rate of profit' (and
>indeed all those like Mill who followed him in this). And Marx is
>explicit--- noting that R ends up retreating to organic chemistry.
>My 1976 Canadian Journal of Economics piece on the rate of profit
>dealt with this point.
>         michael
>Hi Michael,
>Thank you for pointing that out. Apart from his demonstration that
>the rate of profit would tend to decline while the rate of surplus
>value is constant I find Marx's methodological approach very
>interesting. He proves himself again as the best dialectician of his time.

Michael A. Lebowitz
Professor Emeritus
Economics Department
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6

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