From: Fred Moseley (fmoseley@MTHOLYOKE.EDU)
Date: Thu Sep 06 2007 - 22:47:06 EDT
Quoting ajit sinha <sinha_a99@YAHOO.COM>: > --- Fred Moseley <fmoseley@MTHOLYOKE.EDU> wrote: > >> And letís not forget that the Sraffian method of >> simultaneous >> determination of input prices and output prices from >> given physical >> quantities is not really a viable theoretical >> alternative. Because it >> is based on the completely unrealistic assumption >> that all industries >> have the same turnover period. This is not a >> simplifying assumption, >> that could be relaxed at a later state of the >> theory, but is instead a >> necessary essential assumption that could not be >> relaxed, without which >> the theory doesnít work. > _________________________________ > So Fred, Sraffa had never read Ricardo and Torrense? > Or you have never read Ricardo? I leave aside your > peculier interpretation of Marx's prices of > production, because no matter how many times I show > your elementary mistakes you are never going to > acknowledge it. Cheers, ajit sinha Ajit, Ricardo and Torrens dealt with unequal ratios of fixed capital and circulating capital across industries. They did not deal with unequal turnover perods of circulating capital across industries, which is what I am talking about. I argue that Sraffa's theory requires equal turnover periods of circulating capital across industries for reasons given in my last message. If anyone in the Sraffian literature has explicitly incorporated unequal turnover period of circulating capital across industries, please give the references. Thanks. Fred P.S. Sraffa had this to say about Ricardo's problem (Appendix D, p. 94); "Ricardo ... brought to light the complications which the use of FIXED CAPITAL IN VARIOUS PROPORTIONS brings to the determination of values ..." (emphasis added). This is not the problem I am talking about. The problem I am talking about is unequal turnover period of circulating capital across industries, which "brings to the determination of values" additional "complications". ---------------------------------------------------------------- This message was sent using IMP, the Internet Messaging Program.
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