From: Rakesh Bhandari (rakeshb@stanford.edu)
Date: Thu Nov 07 2002 - 12:46:58 EST
Michael P writes in 7959: >Could someone tell me what the political consequences of this question >might be? Michael, if my interpretation is correct, then Marx invented the OCC in order to abstract from those upward changes in the VCC that result from the depletion and consequent rising prices of natural resources, i.e., from organic chemistry. Which is not to say that the VCC may not rise and the rate of profit fall for quasi Ricardian reasons of organic chemistry as you and Jim O Connor have long argued. It is to say that Marx meant to abstract from them in his thought experiment. Yours, Rakesh
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