RE: [OPE] Estimating profit rate attractors

From: Paul Cockshott <>
Date: Fri May 01 2009 - 16:22:47 EDT

Incidentally, Tamerlans work will, I think include buttons to allow you to evaluate the predictive power of the formula. For most countries the formula seems to be a leading indicator with a lead of 1 to 2 years.

From: [] On Behalf Of Dave Zachariah []
Sent: Friday, May 01, 2009 7:44 PM
To: Outline on Political Economy mailing list
Subject: Re: [OPE] Estimating profit rate attractors

Paul Cockshott wrote:
> What I would like to set up a thread to discuss here is whether it is better to estimate the profit rate as net of depreciation or whether one should estimate it gross of depreciation.
> One also has to decide whether the rate of improvement in labour productivity should be net of or gross of depreciation.

I follow the style of Duncan Foley, Gerard Dumenil and Dominique Levy
who take the net domestic product as the result of living labour and
depreciation of the capital stock as past labour.

//Dave Z
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Received on Fri May 1 16:26:50 2009

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