Re: [OPE] Just published: THE NATIONAL QUESTION AND THE QUESTION O F CRISIS (RPE, Vol. 26)

Paul you must remember that the equation I posted is just one equation it is not a full model. It takes as inputs four parameters u, t, g and d and delivers a single result : the attractor for the rate of profit.
A full model would have to include other equations governing the input variables to the profit rate attractor.
The questions you have asked relate to the determination of u. I do not have any equation for this,

I think though, that it is not helpful tothink of u being determined by concius choice between consumption and accumulation. Investment decisions are made by industrial firms whereas unproductive consumption arises from a whole complex of processes partly by firms, partly by individual rentiers and partly as a result of taxation etc.

Note that in my worked example the entire run down of the capital stock was due to moral depreciation or cheapening of the elements of constant capital. It need entail no physical run down of productive capacity.
--- original message ---
From: "Paul Zarembka" <zarembka@buffalo.edu>
Subject: Re: [OPE] Just published: THE NATIONAL QUESTION AND THE QUESTION OF CRISIS (RPE, Vol. 26)
Date: 1st December 2010
Time: 7:10:53 pm

Dave, you are beginning to fall into sarcasm. I'll await Paul C. reply
who may understand my query better. Paul

On 12/1/2010 1:43 PM, Dave Zachariah wrote:
> without falling into the economically irrelevant asymptotic
> endpoint from 'normal language' which precludes that understanding.
>
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Received on Wed Dec 1 18:06:05 2010