From: ope-admin@ricardo.ecn.wfu.edu
Date: Mon Mar 12 2007 - 05:47:53 EDT
---------------------------- Original Message ---------------------------- Subject: Re: [OPE-L] What is most important in Marx's theory? From: "Riccardo Bellofiore" <riccardo.bellofiore@unibg.it> Date: Mon, March 12, 2007 3:33 am To: "OPE-L" <OPE-L@SUS.CSUCHICO.EDU> -------------------------------------------------------------------------- At 13:54 -0800 11-03-2007, Ian Wright wrote: >>What is known is that in vol. III the >>general rate of profi is in value terms, and then applied to the >>inputs, evaluated at simple prices. You rightly insist on >>simultaneous determination. But when you go there, as I told you >>several times, you are actually in the impossibility to have the >>rate of profit known before prices, unless you impose that. > >Small aside: If the given data are the technique, direct labour >coefficients and the real wage rate, then one can deduce the rate of >profit without reference to the price system. > I do not understand very well. I guess the reference here is not Sraffa, right? (this model is very soon left aside). If the given data are the technique, direct labour coefficients and the real wage rate, then one can deduce the rate of profit, of course. But at the same time the prices. The fact that the former may be computed independently from the latter I do not think makes it possible to say that the rate of profit is known before prices. rb
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