At 22:48 26/04/96 -0700, Chai-on Lee wrote:
>Chai-on:
>--------
>Paul, do you mean that, empirically, the equalization of exploitation rates
>is more tendencially powerfull than the equalization of profit rates?
>
>
It is hard to be definitive on this, but on the empirical data that I
have seen so far, I would say that for the UK the tendancy for exploitation
rates to equalize is about as strong as that for the rate of
profit to equalise. For the USA such initial calculations as Allin and
I have prepared on it seem to indicate a slightly stronger
equalisation of exploitation rates than profit rates. A paper
dealing with this was circulated by not discussed in the international
value working group.
It is an issue on which a lot more empirical work needs to be done,
both to cover more countries and to refine the figures.
Paul Cockshott (clyder@gn.apc.org)