From: Allin Cottrell (cottrell@WFU.EDU)
Date: Mon Mar 26 2007 - 15:48:00 EDT
On Mon, 26 Mar 2007, Ian Wright wrote: >> I am trying to find out, if they think our empirical data is wrong, >> or do they think that even in the absence of a general rate of profit there >> is >> still a transformation problem > > Uniform profits is a simplifying assumption. The debate on the TP > could take place with a price of production equation that replaces the > single r with a diagonal matrix of r's. Uniform profits is not the > cause of the TP (the mere presence of profits is). Reposting my question on this: Ian, could you explain why you think that is the case? (In a historical sense, Adam Smith believed this; then Ricardo pointed out why Smith was wrong. But I don't suppose your grounds are the same as Smith's.) -- Allin Cottrell Department of Economics Wake Forest University, NC
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