[OPE-L:4890] Re: RRI and the Rate of Profit

andrew kliman (Andrew_Kliman@msn.com)
Tue, 29 Apr 1997 06:30:09 -0700 (PDT)

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In OPE-L:4853, I wrote

"Frank Thompson's calculations for the U.S. show a basically trendless
relation between GDP and "capital," for almost all measures of capital."

In ope-l 4869, Duncan wrote: "Could you give us the citation on this?"

See my ope-l 3945.

He also commented: "I agree about the "labor-saving" part, but I don't see
why the "replacement of labor by capital" would be classified as

It wouldn't be. But Peterson wrote: "Whatever the industry, almost all
technological advances tend to lead to the substitution of more efficient
capital equipment for less efficient capital equipment." That is
"capital-saving" technical change.

Andrew Kliman