Re: [OPE-L] Fred's argument about the deduction (retro)

From: Jerry Levy (jerry_levy@VERIZON.NET)
Date: Wed Jan 16 2008 - 19:18:15 EST

In Vol 1 marx is abstracting from unproductive labour, fixed capital and rent. He only deals with it in
notes that became vol 3, and never published a fully coherent account of it. It is not rocket science to deal with it though.

Hi Paul C:

You left out (the drafts for what became) Volume II where
it was discussed in the context of the costs of circulation
(Ch. 6).

It may not be rocket science, but the subject matter for what was to become Book IV (The State) has not been adequately addressed
by Marxists.  And, that is very much to the point here because of the role of unproductive labour employed by the state.

Suppose, as a consequence of fiscal policy, there is an expansion of government spending.  What is the "Marxist" answer in terms of what are the macroeconomic consequences and how that relates to the rate of profit?

In solidarity, Jerry

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