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> On Thu, 7 Sep 2000, Ajit Sinha wrote:
>
> > Let's cut through this merry go around, and put Fred's arguments in
equation form to
> > show its absurdity. Let me accept Fred's assumption that Ci's and Vi's
are "given".
> >
> > Let us suppose we are in two good economy say iron and wheat. According
to Fred's
> > theory, for iron sector we "observe":
> >
> > $300 (iron) + $100 (wheat) + 10 hrs of labor, and for wheat sector
> > $200 (iron) + $100 (wheat) + 10 hrs of labor
>
> Variable capital appears to be missing from these givens. This is the
> second time you have left out variable capital in your formulation of my
> interpretation. But at least this time you didn't accuse me of leaving
> out variable capital.
>
>
> > Given this, according to Fred
> >
> > 20hrs x m = $700 + $700r, where r is the rate of profits.
> >
> > --> r = ($20m - $700)/$700
>
> I have no idea where your equation comes from. It has nothing to do with
> my interpretation.
I was unclear on your derivation here as well Ajit
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