Allin,
I'm not sure what you mean in your comment on my
statement of the "basic issue."
On Fri, 4 Oct 1996, John Ernst wrote:
> 4. The basic issue is : if Marx holds that tech change is
> both capital saving and labor saving in the period of
> modern industry, why would the rate of profit fall?
Allin says:
Tech change cannot be both labour- and capital-saving, at
the aggregate, macro level, so long as accumulation is
proceeding. (Although, as Paul C has pointed out more than
once, one cannot assume that accumulation always proceeds.)
John responds:
Why not? Given accumulation is proceeding, why can there
not be less living labor per unit output as well as less
constant capital per unit output as we move from one period
to the next?
John