Re: [OPE] Reply to Patrick Bond and Ian Wright

From: wpc <>
Date: Wed Sep 16 2009 - 08:58:01 EDT

Jurriaan Bendien wrote:
> Here on OPE-L, Paul Cockshott has argued - similar to the mathematicians
> Farjoun & Machover - that the capitalist economy features a "dynamic
> equilibrium" and tends to that equilibrium, such that disturbances to the
> system are compensated for and levelled out. Cockshott, as I pointed out, is
> much vaguer about what the equilibrium actually consists of, i.e. what is
> actually equilibrated, but the argument seems to be that price fluctuations
> are the "transmission belt" for correcting imbalances between supply and
> demand.
 What I would hold is that there is a stable distribution of the price
value ratios taken accross the population of commodities. This is
analogous the stable distribution of energies of molecules of a gas at a
given temperature.
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Received on Wed Sep 16 09:02:50 2009

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