Dear Bruce,
I think we have to accept Andrew's TSS numbers as a definitionally correct
one because a profit rate is to be computed for the value-increment over
a certain period of time; it is by definition. But we reject his TSS
proposal on the grounds of the capitalist competitions; those who are
going to enter a new branch of production would have to calculate the
profit rate on the basis of new value terms. The point is this: a
theoretically relevant one is the latter while the customary, usual
conception is the former.
With regards
Chai-on