As my earlier post indicates, this is basically it. If I were teaching
this, I would definitely include the Dumenil/Levy findings in _The
Economics of the Profit Rate_ and the Shaikh/Tonak book. This work needs to
be brought into closer connection with the input/output studies of
Cockshott and Cottrell, and Shaikh and Ochoa. It also links up with studies
of the evolution of the real wage-profit rate relation for real economies
undertaken by Tom Michl and Fred Moseley.
Duncan
>In partial answer of Gerald's [OPE-L:3582], here is my bibliography on
>Duncan's Circuit of Capital approach. Duncan, do you have more? If
>you wanted to discuss this here in detail, I would be game; I have
>done work on it and I have a graduate student doing empirical work
>using the compustat data. It is complicated math, but it is the only
>way to resolve some old issues in Marxist theory.
>
>
>Duncan Foley. Realization and accumulation in a Marxian model of the
>circuit of capital. *Journal of Economic Theory*, 28:300--319, 1982.
>
>Duncan Foley. *Money, Accumulation and Crisis*, volume 2 of
>*Fundamentals of Pure and Applied Economics*. Harwood Academic
>Publishers, Chur, Switzerland, 1986.
>
>
>Duncan Foley. *Understanding Capital: Marx's Economic Theory*.
>Harvard University Press, 1986.
>
>Jean-Guy Loranger. A reexamination of the Marxian circuit of
>capital: A new look at inflation. *Review of Radical Political
>Economics*, 21(1+2):97--112, 1989.
>
>Peter Hans Matthews. *Essays on the Analytical Foundation of the
>Classical Tradition*. Doctor of philosophy dissertation, Yale
>University, May 1995.
>
>Andrew Senchak. *United States Capital Accumulation: 1963--1977*.
>Dissertation for the doctor of philosophy in the graduate school of
>arts and sciences, Columbia University, New York, 1983.
Duncan K. Foley
Department of Economics
Barnard College
New York, NY 10027
(212)-854-3790
fax: (212)-854-8947
e-mail: dkf2@columbia.edu