From: clyder@GN.APC.ORG
Date: Wed Dec 06 2006 - 15:30:48 EST
As a point of interest Ajit what are 1. The rate of growth of the work force 2. The rate of growth of the capital stock 3. The share of surplus value being accumulated for India. Quoting ajit sinha <sinha_a99@YAHOO.COM>: > --- Paul Cockshott <wpc@DCS.GLA.AC.UK> wrote: > > > I put the high level of unemployment down to : > > 1) Restrictive monetary policies which hindered > > capital accumulation. > > 2) An obsession with reducing the state budget > > deficit > > 3) A shift in the distribution of income from the > > working class towards > > the rentier class who have a lower propensity to > > consume > ________________________ > Paul, they are all Keynesian arguments. I think it > works when you are describing recessions. It is hard > to make Keynesian arguments for unemployment when an > economy is growing around the rate of 8% or at least > 6% on the average for 25 years (which is the case of > India). I think we need to wind this debate down. But > just out of curiosity, I have a question: When do you > measure labor content of commodities, how do you > homogenize heterogeneous labor? Do you use wage > differentials? If so, then how do you justify it? > Cheers, ajit sinha > > __________________________________________________ > Do You Yahoo!? > Tired of spam? Yahoo! Mail has the best spam protection around > http://mail.yahoo.com > ---------------------------------------------------------------- This message was sent using IMP, the Internet Messaging Program.
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