RE: [OPE] Estimating profit rate attractors

From: Paul Cockshott <>
Date: Fri May 01 2009 - 16:18:23 EDT

My feeling is that the estimator works fairly well for profit defined either way, but I need to get some more experience of the two techniques.
I also need to check just how the uk national income tables defines Total Operating Surplus which is what I have been using for up to date figures.
The problem with the EPWT is that they go only to 2003.
Still a few file permission glitches on the CGI for the web server so I cant give the
links to Tamerlan's work till next week.

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 16:27:55 2009

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