From: GERALD LEVY <gerald_a_levy@msn.com>

Date: Sun May 17 2009 - 11:50:35 EDT

Date: Sun May 17 2009 - 11:50:35 EDT

*> This division does not show up in the stock variable of the denominator
*

*> but is directly related to the flow variable in the numerator since
*

*> surplus value is decomposed as: S = P + U, where P is profit-type income
*

*> and U is unproductive expenditure.
*

Hi Dave Z:

The question is what happens to V? Conventionally, within Marxian

analysis, V, like C, is a cost of production and belongs in the

denominator of the rate of profit.

*> Thus R* = S/K an upper-bound to R = P/K.
*

Of what relevance is R* for *empirical* studies? At best, it is a

misguided fiction selected for mathematical purposes and having

no bearing on actual capitalist economies. (NB: don't get me {re-}

started on this topic ....)

In solidarity, Jerry_______________________________________________

ope mailing list

ope@lists.csuchico.edu

https://lists.csuchico.edu/mailman/listinfo/ope

Received on Sun May 17 11:58:40 2009

*
This archive was generated by hypermail 2.1.8
: Sun May 31 2009 - 00:00:03 EDT
*