From: gerald_a_levy (gerald_a_levy@msn.com)
Date: Sun Feb 23 2003 - 17:39:37 EST
Re Rakesh's [8498]: > ++Doesn't Brenner's argument that with a constant real wage > technical change only results in a declining average rate of > profit with a defacto relapse in the productive forces depend > on the assumptions of bourgeois equilibrium economics, viz., > input=output prices as in the comparative static Okishio > Theorem, now repudiated by its own author? Okishio did not 'repudiate' what has become known as the Okishio Theorem (in his _CJE_ 2001 article): rather, he simply acknowledged that it was a comparative statics result. And it has been claimed by Fujimoto and Ranade that the Okishio Theorem also holds in a non-linear environment: http://www.kfunigraz.ac.at/vwlwww/metroeconomica/1fujimoto.html Solidarity, Jerry
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