On Mon, 19 Feb 2001, Drewk wrote: > The issue is whether the growth of Dept. I can outstrip the growth > of Dept. II, i.e., overcome the supposed "limits" set by demand > for consumer goods. It was obvious to Luxemburg and it is obvious > to Paul that the answer is "no." It is obvious to me and to > others that the answer is "yes." As somewhat put it at the AHE > conference last year (where I posed my question to Paul), > capitalism *is* production for production's sake. I once heard an anecdote, attributed to Kalecki: Q: What do you do if the railroad from A to B is languishing from lack of traffic? A: Build another railroad from A to B, of course! (Hence providing custom for the first one in construction.) Intuitively, it seems clear that's there's a sort of "bubble" here, though I'm not sure how one would prove that it has to burst within finite time. Allin Cottrell.
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