From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Sat Oct 14 2006 - 18:15:16 EDT
--- Paul Zarembka <zarembka@BUFFALO.EDU> wrote: > Ajit, > > Thanks for answering. I know I was asking a simple > question but those > are often the hardest to answer. For myself, I > believe that joint > production is a significant problem. > > Still, I wonder at your remark on Oct. 12: "You can > have increasing > productivity with falling organic composition of > capital and you can > have decreasing productivity with rising composition > of capital." > > Given that you say C or C+V cannot be measured, I > wonder why you discuss > organic composition of capital at all. But then I'm > probably missing > something else in your argumentation; perhaps a > different definition of > organic composition than I am familiar with. > > Paul ______________________________ Paul, now I understand your question. I was not claiming that the labor-values of C or V cannot be measured. What I was claiming is that to determine the rate of profits one needs to measure capital investment by the prices of production and not labor-values, and since prices of production in general differ from labor-values, the formula, Profit = S/(C+V) is incorrect. But you are right that in the presence of joint-production even calculating the labor-values are quite problematic. I hope this clarifies the confusion. Cheers, ajit > > Quoting ajit sinha <sinha_a99@YAHOO.COM>: > > > Paul, joint production has nothing to do with it. > This > > is quite well known--check Sraffa's chapter on > dated > > labor approach or Steedman's 'Marx after Sraffa'. > > Actually the thing is clear in Ricado as well. If > you > > are asking me to work out the capital theory > debate > > here, then right now I don't have time for it--I'm > > working on Ricardo right now, when I come to > Sraffa, > > I'll send you the chapter that will explain all > that. > > Cheers, ajit > > > > --- Paul Zarembka <zarembka@BUFFALO.EDU> wrote: > > > > > Ajit, I was principally asking about the basis > of > > > your concern expressed > > > by saying "capital cannot be measured by direct > and > > > indirect labor-time". > > > > > > For either C or C+V, is your concern joint > > > production or something > > > more/else? C'est la question. Paul Z. > > > > > > Quoting ajit sinha <sinha_a99@YAHOO.COM>: > > > > > > > --- Paul Zarembka <zarembka@BUFFALO.EDU> > wrote: > > > > > > > > > Ajit, Are you refering to the problem of > joint > > > > > production in the > > > > > measurement of "C" (you mention "capital") > or > > > > > something else? If > > > > > something else, what specifically? Thanks, > Paul > > > > ______________________ > > > > I mean (C+V) but it would also be correct if > you > > > take > > > > only C and leave the V out. ajit > > > > > > > > > > Quoting ajit sinha <sinha_a99@YAHOO.COM>: > > > > > > > > > > > > > You should > > > > > > > > note that it is well accepted that the > > > formula > > > > > for > > > > > > > the > > > > > > > > rate of profits as S/(C+V) is wrong, > so > > > you > > > > > need > > > > > > > to > > > > > > > > check Sraffa to see whether the > > > proposition > > > > > you > > > > > > > think > > > > > > > > is obvious is all that obvious or not. > > > > > > > > > > > > > > Ajit, please tell us in what respect > S/(C+v) > > > is > > > > > > > wrong according to > > > > > > > others. There are a lot of dimensions > of > > > this > > > > > issue > > > > > > > and I cannot tell > > > > > > > which you are referring to. > > > > > > ________________________ > > > > > > Simple, capital cannot be measured by > direct > > > and > > > > > > indirect labor-time. Cheers, ajit sinha > __________________________________________________ Do You Yahoo!? Tired of spam? Yahoo! Mail has the best spam protection around http://mail.yahoo.com
This archive was generated by hypermail 2.1.5 : Tue Oct 31 2006 - 00:00:03 EST