In [OPE-L:3392] John, after evoking some examples from the copying and
laser-printing industries, asks:
>
>So where are these machines that translate into a falling constant capital
>to output ratio?
Do you mean a rising constant capital to output ratio? A falling constant
capital to output ratio would correspond to a falling maximum rate of
profit, or a falling "productivity of capital", which is the pattern I tend
to see in the macroeconomic data.
Duncan
Duncan K. Foley
Department of Economics
Barnard College
New York, NY 10027
(212)-854-3790
fax: (212)-854-8947
e-mail: dkf2@columbia.edu