Duncan,
Yes. I should have said "rising" in 3392. Do you not mean to say
"rising" in place of "falling", as well, in describing the constant
capital to output ratio? The question, again, is how we see what
you observe on macro level at the micro level.
Sorry for the confusion.
John
On Oct 15, 1996 09:41:02, 'dkf2@columbia.edu (Duncan K. Foley)' wrote:
>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
>
>