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

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Mon Apr 02 2007 - 23:39:42 EDT

Can technological progress then raise unit values as machinery which had
it been amortized over its natural life would have allowed for a reduction
in unit values is amortized rapidly to avoid moral depreciation? In
response to this perverse result, do and must capitalists which have not
already centralized then come to an implicit understanding  to undertake
greenfield investments collectively only in the context of recessionary
downturns (see William Darity and James Galbraith's political theory of
the business cycle)? If so, then this would give credence to the Uno idea
that unit values are fairly stable in the prosperity phase of the business
cycle? This would create some problems for the TSS school to which you are
sympathetic, no?Sekine's criticism of TSS is one of the few which has
given me reason for pause. I have not yet read Railroad Economics. I think
I saw review of it on, no?

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