Re: [OPE-L] Marx on the 'maximum rate of profit'

From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Sat Oct 14 2006 - 18:38:17 EDT

--- Ian Wright <wrighti@ACM.ORG> wrote:

> Yes, let's move on to discuss expanded reproduction.
> But first let's
> get agreement on the simpler case of simple
> reproduction.
> The point is that Sraffa's labour-value accounting
> system does not
> pass the test of simple reproduction. It does not
> measure replacement
> costs. I invite contradiction on this point,
> particularly as it is a
> relatively straightforward matter of logic and
> simple arithmetic
> (e.g., the low-dimensional corn economy in the
> appendix to my working
> paper: ).
> Do you appreciate the problem that exists with
> Sraffian labour-value
> accounting in the context of simple reproduction?
> Best wishes,
> -Ian.
No. There is no logical problem with Sraffa's
accounting and it is not different from Marx's
accounting of labor-values. I hope you would agree
that logically two accounting systems cannot exist:
one for simple reproduction and another for expanded
reproduction. Now both Sraffa's and Marx's accounting
system remain the same in both the systems so at least
they are logically consistent on this score. You have
not been able to apply your accounting system to
expanded reproduction situations, and as I had argued
in our previous exchange that it cannot be
applied--the onus is on you to prove that your system
is not logically inconsistent. So put it to the test!
Cheers, ajit sinha

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