[OPE-L:3969] Re: More on negative surplus value

Michael Perelman (michael@ecst.csuchico.edu)
Sat, 11 Jan 1997 09:48:56 -0800 (PST)

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Gerald Levy wrote:

> (1) [an empirical/historical question] Re the late 19th century (in the
> advanced capitalist economies), I think you are right. Yet, I am
> curious about your comment that you believe "something similar might
> be brewing today." Where do you see the evidence of this possible
> development?

Right now capital is depreciating very quickly. The only thing that is
holding off a repeat of the late nineteenth century experience is the
extreme protection of intellectual propery and patent rights that
protects capital from competition in the high profit, high tech sectors.

Michael Perelman
Economics Department
California State University
Chico, CA 95929

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