Previous message: john ernst: "[OPE-L:4012] Manchester Spinner"
Marx was of two minds. On the one hand, he wanted to use a "model" in
which capital lasted 10 years. Engels tried to diasbuse him of the
realism of this approach, but to no avail.
On the other hand, Marx wrote extensively about sudden and unexpected
devalorization, which went against the decennial cycle theory.
You can find citations for both approaches.
-- Michael Perelman Economics Department California State University Chico, CA 95929Tel. 916-898-5321 E-Mail michael@ecst.csuchico.edu