[OPE-L:627] Re: Forms of Tech. Change (digression)

Michael Perelman (michael@ecst.csuchico.edu)
Sat, 2 Dec 1995 18:10:50 -0800

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Andrew and I and others have worked on this problem before. The Falling
Rate of Profit might best be understood outside of the simple C+V+S
framework. With rapid technical change, the elimination of historical
capital values creates a sequence of capital losses that drags down profits.

I thought Andrew had gone over this before on this list.
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 916-898-5321
E-Mail michael@ecst.csuchico.edu