From: Robert Vienneau (rvien@DREAMSCAPE.COM)
Date: Wed Apr 25 2007 - 14:29:49 EDT
As I understand it, an economy in standard proportions need not be growing at the maximum rate of growth. Think what happens if workers all their wages, and capitalists consume some of their profits. Assume both workers' and capitalists' consumption baskets are in standard proportions. Nor are Sraffa's prices proportional to labor values when the economy is in standard proportions. What one can say then is that all of Marx's volume 3 invariants hold. I did open VicenÁ's Excel file, but only looked at it briefly. I did not understand it. I find it a challenge to document a spreadsheet. It is true than when an economy is in standard proportions, it can theoretically grow smoothly. But the economy can theoretically grow smoothly, with Sraffa's prices prevailing, when the economy is out of standard proportions too. Think what happens if consumption baskets are not in standard proportions, but levels of operation of each process are such that needs for use are exactly met.
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