Jerry,
I think you presume a lot in your post below. The "lot"
is the role of the turnover of fixed capital and the
periodicity of crisis. That simply is not part of the
picture of Part III of Book III. It clearly was Marx's
idea after he wrote Book III. Further, the chapter
in Book III on the turnover of fixed capital was not
written by Marx, so who knows what the thing might
have looked like upon completion by Marx.
Regards,
John
n Sat, 2 Dec 1995 glevy@acnet.pratt.edu said:
>John wrote in [OPE-L:626]:
>
>> One specific relation between the two concepts, LTGRPD
>> and periodic crisis, is that the latter brings into
>> existence the former and not the former, the latter.
>
>Does it? It would seem to me that the LTGRPD is introduced in Vol. 3
>_before_ an explanation of the specific mechanisms that call forth the
>crisis. I believe part of the confusion centers on the fact that many
>authors confuse the FRP (a term that, to my memory, Marx never used) with
>the LTGRPD.
>
>The crisis brings forth a falling rate of profit (obviously, this is
>tautologically true). However, is the decline in profitability that
>accompanies the crisis the same thing as the LTGRPD? Clearly, Marx would
>have wanted to suggest that the LTGRPD manifests itself in the crisis,
>but that does not mean that he held that the crisis caused the LTGRPD?
>
>In OPE-L Solidarity,
>
>Jerry
>