[OPE-L:5330] Re: is technical change continuous or discontinuous?

From: Rakesh Narpat Bhandari (rakeshb@Stanford.EDU)
Date: Wed Apr 04 2001 - 13:16:25 EDT


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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