Rakesh, this is just what seems to have happened in the late 19th C., where capital devalorizing almost as fast as PC's today. Each company needed bigger and bigger factories to be able to operate at the appropriate scale at that moment. "Rakesh Bhandari (bhandari@Princeton.EDU)" wrote: > Well, what do you think of the possibility that the rate of > accumulation can speed up even as the rate of profit falls? This kind > of dynamic is in the Bauer scheme which Grossmann extends. If I > remember correctly, you thought this to be an *absurd* feature of the > extended scheme (you have had only the most disparaging things to say > about my hero), but then what do you make of Capital 3 Penguin, > p.375?! > -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael@ecst.csuchico.edu
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