Re: (OPE-L) Re: New book - advance publicity

From: Asfilho@AOL.COM
Date: Wed Nov 19 2003 - 12:15:15 EST 

Re. Jerry's query about the section on Okishio:

This is because Okishio's is the best-known and the most influential critique
of Marx's LTRPF. We wish to defend a particular understanding of the law, in
which the law does not imply a relentlessly falling ROP, or the possibility of
long-run empirical predictions. In our view (this insight is Ben's, but I
agree with him on this) the law captures essential aspects of the dynamics of
capital accumulation, but it has to be understood jointly with the
counter-tendencies. Thus no empirically determinate outcomes - but this framework helps to
understand the contradictions in capital accumulation at a greater level of
complexity and detail.

Having explained this reading of the LTRPF, we criticise Okishian approaches
in the above section. This includes not only well-known Sraffian views, but
also other views that draw inspiration in Okishio's alleged "demonstration" that
Marx was wrong.

alfredo.

This archive was generated by hypermail 2.1.5 : Thu Nov 20 2003 - 00:00:00 EST