Rakesh, have you read Smith and Ricardo's discussion of competition and the formation of natural prices? The language is very similar to these chapters in Marx. Duncan >First, Marx was not a long periodist such that an analysis in terms >of equilibrium UNIT prices (unit input prices=unit output prices) >makes any sense. Duncan has not responded to my textual evidence and >argument. Marx only said the changes in prices of production due to >changes in the general rate of profit would only be manifest in a >longer period, not that prices of production and in particular unit >prices of production would not change over the shorter terms. > -- Duncan K. Foley Leo Model Professor Department of Economics Graduate Faculty New School University 65 Fifth Avenue New York, NY 10003 (212)-229-5906 messages: (212)-229-5717 fax: (212)-229-5724 e-mail: foleyd@cepa.newschool.edu alternate: foleyd@newschool.edu webpage: http://cepa.newschool.edu/~foleyd
This archive was generated by hypermail 2b29 : Tue Oct 31 2000 - 00:00:11 EST