Re: [OPE] webpage computing dynamic rate of profit

GERALD LEVY wrote:
>
>
> The question is what happens to V? Conventionally, within Marxian
> analysis, V, like C, is a cost of production and belongs in the
> denominator of the rate of profit.
>

Again, you have not addressed the problem of measuring the stock of net
wage costs.

Wage costs would be more relevant when measuring the flow rate of
profit, not the rate of return on productive assets.

>
>
>
>> Thus R* = S/K an upper-bound to R = P/K.
>>
>
>
> Of what relevance is R* for *empirical* studies? At best, it is a
> misguided fiction selected for mathematical purposes and having
> no bearing on actual capitalist economies.

Tell that to Shaikh and Tonak, for them it is relevant to consider an
upper bound, I'm not directly considering that: R = P/K.

//Dave Z

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Received on Sun May 17 12:26:30 2009