Re: [OPE-L] basics vs. non-basics

From: Philip Dunn (pscumnud@DIRCON.CO.UK)
Date: Tue Sep 20 2005 - 11:22:10 EDT 

Quoting Paul Cockshott <wpc@DCS.GLA.AC.UK>:

> If there is no physical net product, then no rational capitalists
> would engage in production, since they would be better off to
> just hold onto stocks and sell them speculatively.
> Without a physical net product, the act of 'production'
> is an act of destruction.
> 
 
Suppose we have an all agricultural economy and there are bad harvests, so bad
that the physical net product is all negative.  This is not rationally
predictable, so there is no reason not to engage in production.  The following
year the harvests could be good and the economy could recover.


Philip Dunn

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