Re: [OPE-L] models with unequal turnover periods

From: glevy@PRATT.EDU
Date: Thu Sep 06 2007 - 09:56:16 EDT

>> Marx’s theory, on the other hand, does not require the unrealistic
> assumption that all industries have the same turnover period, and
> therefore is a much more promising approach to understand the
> complexities of price determination in capitalism.

Hi Fred:

Well, how many formal Marxian models (or numerical "illustrations")
incorporate unequal turnover periods among branches of production?
Most of those models don't even incorporate constant fixed capital
(i.e. they are "circulating capital" models) or, if they do, they make
heroic assumptions about the depreciation of the fixed capital.

In any event, if the issue is to "understand the complexities of price
determination in capitalism" then the focus should be on the real subject
matter (capitalism) rather than simply "Marx's theory".

In solidarity, Jerry

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