At 13:15 30/09/00 -0400, ope-l@galaxy.csuchico.edu wrote: Andrew ------ >The last statement may seem to be false, because the Okishian profit rate >*appears* to be determined by technology and real wages. But we are >given equations for the Okishian profit rate only in the special case of >static equilibrium, and these equations are *tautologies*. They don't >describe any process of determination. It is simply not valid to infer >any particular process of determination from such tautologies. This is >easy to see. When input prices = output prices and the profit rate is >uniform, Marx's rate of profit must be identical to the physicalist >profit rate. However, it is DETERMINED in an entirely different way from >the physicalist profit rate -- it varies independently of technology and >real wages. Paul ---- I can accept that factors other than technology and the real wage affect the average profit rate in the economy. In this sense it varies independently of technolgy and the real wage. But this is not to deny that technology and the real wage also contribute to the determination of the rate of profit. Are you actually saying that real wages and technology do not influence average profits? Paul Cockshott (clyder@gn.apc.org)
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