From: glevy@PRATT.EDU
Date: Mon Mar 28 2005 - 10:04:27 EST
Hi Paolo, > It is interesting to note that the full title of the chapter is The > Reserve Army and the falling Rate of Profit, which indicates that he > does not separate the two issues. Marx, as we can recall does not > have the falling rate of profit in his discussion of the general law. The issues of the IRA and the LTGRPD are separated in Marx's _presentation_ but they are inseparable to the extent that an increase in the IRA and a tendencial fall in the general rate of profit are both from Marx's perspective an expression of the increase in the OCC which is itself fundamentally an expression of an increase in the social productivity of labour. Yet, Morishima's formalization fails to account for how the same mechanism that brings forth a tendencial fall in the rate of profit also manifests itself in a long-term tendency for the rate of surplus value to rise. Given the mathematics used by Morishima this is a 'result' which can not be replicated: too many 'unknowns'. This is the danger inherent in Morishima's mathematical efforts: an understanding of Marx's theory is obscured because of the formal requirements for solving his system of equations. In solidarity, Jerry
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