On Sun, 04 Feb 2001, you wrote: > In [OPE-L:4830} Fred wrote: > > Whether or not Marx believed > that there was a real tendency > in the real world toward > the equalization of profit rates is a separate > issue from > whether or not Marx's concept of price of production > > assumed at a high level of abstraction that there is such > a tendency, > such that prices of production are "long- > > run center of gravity" prices. > > I agree completely. What is your position, though, on the two related (but > *separate*) questions: > > a) did Marx believe that there was a real tendency for the equalization of > profit rates? > > b) is there a real tendency for the equalization of profit rates? > Note that what is crucial for the price of production hypothesis is not equalization of sectoral rates of profit, but that these sectoral rates of profit should be statistically independent of the sectoral organic compositions of capital. -- Paul Cockshott, University of Glasgow, Glasgow, Scotland 0141 330 3125 mobile:07946 476966 paul@cockshott.com http://www.dcs.gla.ac.uk/people/personal/wpc/ http://www.dcs.gla.ac.uk/~wpc/reports/index.html
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