Re: [OPE] Peter Flaschel

Date: Sat Jun 19 2010 - 17:31:11 EDT

>I view Accountants as
> being closer to reality than theorists and am therefore not surprised
> that measures of labor productivity can coincide in magnitude with what
> Marx proposed for this purpose (p.48 in my edition of Capital Vol. I).
Hi Peter:
Well, yes, they are closer to reality but therein lies some problems. For
instance, their accounting has to take into account legalities and taxation
and, like attorneys, their job is to best represent their employers.

> I am working with Roberto Veneziani on a paper which attempts to show
> that the law of falling labor content is nearly a universal one in the
> case of capital-using labor-saving technical changes. Once it is ready
> for posting I would welcome very much all types of critical comments.
Thanks, but I won't be able to get to it for a while....

> I must also say that I like your debate on the conduct of firms. I would
> here try to follow Schumpeter to a certain degree who provided a model
> of competitive socialism and democracy in 1942, starting from the
> observation of growing hostility as far as capitalism was concerned.
> Are we now again in a similar position?

I don't know. I'd have to brush up on my Schumpeter.
In solidarity, Jerry
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Received on Sat Jun 19 17:32:49 2010

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