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At 07:43 PM 6/30/2000 -0400, fred wrote:
>A quick reply to Andrew T. (3545).
>Andrew, thanks for you kind words. I agree that capitalists can use
>credit to initiate the circuit of capital. But I do not agree with
>Kalecki that capitalists earn what they spend. I agree instead with
>Marx that what capitalists earn is produced by the surplus labor of
>workers. What about you?
I think the point of Marx and Kalecki, rather, is that what capitalists
*realise* (of the surplus value extracted from workers) is determined by
what they spend.
Michael A. Lebowitz
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6
Office: Phone (604) 291-4669
Fax (604) 291-5944
Home: Phone (604) 872-0494
Fax (604) 872-0485
Lasqueti Island: (250) 333-8810
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