That understates its power, it is pretty good at predicting if the rate of profit next year will be higher or lower than last year.
--- original message ---
From: "Dave Zachariah" <davez@kth.se>
Subject: Re: [OPE] Just published: THE NATIONAL QUESTION AND THE QUESTION O F CRISIS (RPE, Vol. 26)
Date: 3rd December 2010
Time: 3:39:26 pm
On 3 December 2010 16:33, GERALD LEVY <gerald_a_levy@msn.com<mailto:gerald_a_levy@msn.com>> wrote:
Then, in what sense can these be taken to be "predictive" of a real process associated with a capitalist
economy? A predictive model has to be adequately specified (i.e. adequate as a specification of the real
subject itself) for its predictions to have any real meaning.
Sorry, I meant to say that the steady-state rate is predicts the center of gravity of the distribution of profit rates in a real capitalist economy.
//Dave Z
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Received on Fri Dec 3 11:20:37 2010
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