From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Thu Sep 07 2006 - 05:33:51 EDT
---------------------------------------- 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. ----------------- I don't know about Crotty but Kalecki is pretty clear that investment determines profits
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