Re: (OPE-L) Luxemburg's Intro to P.E. in English

From: Riccardo Bellofiore (riccardo.bellofiore@UNIBG.IT)
Date: Fri Nov 19 2004 - 10:46:45 EST

At 10:21 -0500 19-11-2004, Fred Moseley wrote:
>On Thu, 18 Nov 2004, Riccardo Bellofiore wrote:
>Riccardo, I don't recall any of the Levy crowd saying anything about the
>rate of profit, whereas I think it is fundamental to understanding the
>current world economic situation.
>And they certainly do not say anything about unproductive labor, the
>main cause in my view of the decline of the rate of profit in the postwar
>US economy.

of course, my point was about the financial side. I am not asking PK
guys to be Marxists, but I may ask Marxists to recognize where PK
theorists have contributed significantly.

>  Actually Moseley does not seem to me to be a falling rate of profit
>  >guy, read carefully.
>When I first read this I said, "What?!"
>But from a later post, I realize that
>what you mean is that I emphasize the
>increase of unproductive labor, more than
>the increase of the composition of capital,
>which is true (although I think the latter
>is still important).

it is as you realized from the later post.

Riccardo Bellofiore
Dipartimento di Scienze Economiche
"Hyman P. Minsky"
Via dei Caniana 2
I-24127 Bergamo, Italy
direct    +39-035-2052545
secretary +39-035 2052501
fax:      +39 035 2052549

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