Re: [OPE-L] sundry

From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Thu Sep 07 2006 - 05:33:51 EDT


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A simple response to the reasons I gave would be appropriate. Again
here they are:

1. I argued that Kalecki and Crotty were confused about whether
profits determined investment or investment determined profit. I
argued that Crotty was wrong to rule out the possibility that
declining profitability could depress investment, and I said that Trigg
is best understood as in agreement with Crotty. Trigg did not discuss
Crotty,
but Crotty's work is invoked to make just this point in the Science and
Society
exchange.
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I don't know about Crotty but Kalecki is pretty clear that investment
determines profits


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