re 4982 >A few comments on matters recently debated. > >1. Price of production and technological change. > >I'm with Fred in that I don't see simultaneous equations as evil: Allin, The very point of Fred's elaboration of his macro method is to counterpose it sharply to simultaneous equations! For example, the methods yield different magnitudes in the average rate of profit once there are changes in the technical conditions in a luxury sector--Andrew K and I once had a big fight about this. But Fred will elaborate (or hopefully he will have time to do so). And I think he can provide the numbers to show why his method is subtantively different than simultaneous equations. > >I prefer this interpretation, despite its problems, because the >alternative is worse, namely that Marx was just gibbering when he made >his "double divergence" statements. I haven't seen a rationalization >of these statements, from the proponents of "cost-price plus", that >makes any sense to me. Thank you for noticing. As I said, it is interesting that on this issue Alejandro, Andrew K and Fred are all agreed against me and (I guess) you too. Yours, Rakesh
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