Re: [OPE-L] Sraffa's Contribution to Marxian Political Economy

From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Tue Feb 27 2007 - 12:33:26 EST 

Thanks Gary! I think soon I will have something
interesting for Solow on rate of profit. ajit
--- Gary Mongiovi <MONGIOVG@STJOHNS.EDU> wrote:

> Hi. Solow criticized the assumption of equal rates
> of SV, on the ground that there is no mechanism that
> can bring about that equalization. He contrasted
> that case with the equalization of profit rates,
> which, in the absence of impediments to the movement
> of capital, is brought about by intersectoral
> capital flows.
>
> Regards,
>
> Gary
>
> -----Original Message-----
> From: OPE-L on behalf of ajit sinha
> Sent: Tue 2/27/2007 12:24 PM
> To: OPE-L@SUS.CSUCHICO.EDU
> Cc:
> Subject: Re: [OPE-L] Sraffa's Contribution to
> Marxian Political Economy
>
>
>
>       Thanks Jerry! It sounds more like a critique of
> Marx
>       rather than Sraffa. Are you sure he criticised the
>       assumption of equal rate of surplus value and not
>       equal rate of profits? cheers, ajit sinha
>
>       --- Jerry Levy <Gerald_A_Levy@MSN.COM> wrote:
>
>       > >  I would be interested in knowing what Solow
> had
>       > to say.
>       >
>       > Hi Ajit:
>       >
>       > I didn't take notes and am not sure I remembered
> all
>       > of the points he made
>       > or can recount them accurately.  (He spoke for
> quite
>       > a while, at least
>       > as long as those who were making presentations.)
>       > Perhaps Gary and/or
>       > Riccardo can fill-in or correct the following
>       > points:
>       >
>       > i) he was surprised (and humored) by the
> attention
>       > which Sraffa's archives
>       > has drawn.
>       >
>       > ii) he recounted discussions he had with PS  and
> his
>       > impressions of him
>       > which were generally favorable. Clearly, he
>       > respected PS as a peer
>       > and scholar.
>       >
>       >  iii) he criticized the assumption of  a equal
> rate
>       > of surplus (value) as
>       > not having a real base. In other words, it was
>       > assumed for reasons
>       > of mathematical convenience.  He also discussed
> the
>       > issue of
>       > the amounts of unknowns in Sraffa's theory and
> the
>       > choices that
>       > were made about limiting the quantity of
> unknowns.
>       >
>       > iv) he criticized  the point on the wage-rate of
>       > profit  frontier
>       > where the rate of profit equals zero.  At that
>       > point, he claimed
>       > 'exploitation' had no meaning.  He did add,
> though,
>       > that he
>       > was not opposed to a claim that there is
>       > exploitation in the
>       > real world. (*)
>       >
>       > In solidarity, Jerry
>       >
>       > (*)  iii and iv could be seen as similar
> objections
>       > in the
>       > sense that both imply that Sraffa's theory
>       > over-simplified the
>       > subject matter for reasons of mathematical
>       > expedience. A fair
>       > criticism perhaps, but from someone who developed
> a
>       > one-sector
>       > growth model?
>       >
>       > In solidarity, Jerry
>       >
>
>
>
>
>
>
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