Dear Alan;
Thank you remembering me on the problem of fluctuation of general price
level through business cycles and long waves, though I forgot that, as you
supposed. A full argument of mine is in 9.4 and 9.5 in my book, The Basic
Theory of Capitalism. The analysis is not easy and mine may be still to be
extended or examined, but it would be worth referring (hopefully comparable
with Mandel's work!).
By the way, I am discussing and cooperating with Costas on the value of
money. He may introduce some contents in OPE-L. Try to encourage him should
you have a good opportunity.
He booked in my semnar on the Changing Industrial Structure of Japanese
Economny in SOAS as you suggested on lunch time 2 July. Therefore, please
forget to organize another seminar in Greenwich. I am still thinking where
to stay including your kind suggestion. Anyway, I look forward to seeing
you around that date in London, but not in New Castle this time.
All the best,
Makoto