From: clyder@GN.APC.ORG
Date: Mon Sep 26 2005 - 16:11:56 EDT
Quoting Ian Wright <iwright@GMAIL.COM>: . > > Here's a quote from PCMC: > "Consider a commodity which enters to an unusually large extent into the > production of itself. It may be imagined to be come crop such as a species > of beans or of corn the wastage on which is so great that for every 100 > units sown no more than 110 are reaped. It is clear that this would not > admit of a rate of profits higher than, or indeed, since other means of > production must be used as well, as high as, 10%. > > "If the product in question is a basic one there is no problem; it simply > means that the Maximum rate of profits of the system will have to be less > than 10%. > > If however it is a non-basic product, complications arise ..." etc. > > -Ian. > The only problem here is the non-equalisation of the rate of profit which we know is a fact anyway. The interesting question though is whether the average rate of profit is still regulated by the basic sector. ---------------------------------------------------------------- This message was sent using IMP, the Internet Messaging Program.
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