[OPE-L] monetary macro interpretation

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Sat May 20 2006 - 00:37:34 EDT

Fred, I found this description of Lexis' interpretation on the web.
Don't know whether it's an accurate summary of Lexis. But how does
the idea below relate to your interpretation. It seems more macro
than yours? There is a movement from an irreducibly macro level to
the micro level. Seems intriguing to me.


from http://william-king.www.drexel.edu/top/prin/txt/marx/marx9.html

Lexis' idea is that the concepts of surplus-value and rate of
exploitation be applied to the working class as a whole. There is
then no difference in the organic composition of capital to worry
about -- the organic composition of capital to use in the computation
is the composition for the entire capitalist economic system. That
determines the rate of profit, which then determines the "values in

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