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

From: Michael Perelman (michael@ECST.CSUCHICO.EDU)
Date: Thu Sep 06 2007 - 10:46:55 EDT

Still playing on my one string violin, what about cases when the turnover period
for constant capital is unknown?

On Thu, Sep 06, 2007 at 09:56:16AM -0400, glevy@PRATT.EDU wrote:
> >> 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

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at

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