From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Mon Apr 04 2005 - 05:10:15 EDT
I was interested in his paper on the falling rate of profit included on his website. This is broadly pro-Okishio and argues that where both the organic composition of capital and the real wage rise - and cause a fall in the rate of profit this is only due to accumulation. However I don't see how one can relegate the case brought about by accumulation as an 'only' or a subsidiary case. I think one could reverse the argument and say that since one expect accumulation to be the norm in a capitalist economy this will be the predominant case. The norm would be for wages to represent a roughly stable share of GNP and for accumulation to increase the stock of constant capital. Under these circumstances the trajectory of profit will be determined by demographics. -----Original Message----- From: OPE-L [mailto:OPE-L@SUS.CSUCHICO.EDU] On Behalf Of glevy@PRATT.EDU Sent: 03 April 2005 13:12 To: OPE-L@SUS.CSUCHICO.EDU Subject: [OPE-L] Frank Thompson's Homepage < http://www-personal.umich.edu/~fthom/ > If you click on his 'brief' cv <http://www-personal.umich.edu/~fthom/Curriculum_Vita.htm > you will see that most of his publications are available online in pdf format. In solidarity, Jerry
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