Re: [OPE-L] calculating the not rate of profit

From: glevy@PRATT.EDU
Date: Mon Apr 02 2007 - 18:35:32 EDT

> I have never been very successful in getting people on board with this
> idea.


We're on the same ship.  Where are we headed next?

In solidarity, Jerry

> Paul
> suggests that accountants can evaluate moral depreciation.  I'm not so
> sure.
> Accountants use rules of thumb that reflect past practices.
> In addition, when we estimate the c in c + v + s, we're assuming a
> process  much like
> an accountant's rule of thumb.  Imagine that you just bought a new 1970
> calculating  machine -- for those of you too young to have seen one they
> were very big  bulky, inefficient, and expensive electro-mechanical
> devices to do simple  calculations.
> The rule of thumb might be that such equipment lasts a decade, but no
> sooner have you  bought one than cheap calculators come on the market.
> Ex post the c seems like a  major underestimate.  Just recall Marx's
> discussion of Babbage's patent net -- I never knew what they did.

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