Oops I garbled this sentence as I was cutting and pasting: Again, while constant fixed capital may be replaced by capital as a whole in a serious downturn, it does not follow as Steve has suggested that the re placement of continuous fixed capital is not a continuous process at the individual level. I meant Again, while constant fixed capital may be replaced by capital as a whole in a serious downturn, it does not follow as Steve has suggested that the re placement of fixed capital is also not a continuous process at the aggregate level. Rakesh
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