A comment on David's ope-l 4837.
David wrote: " The profit rate is clearly *rising,* toward a maximum given by
the output-to-capital ratio."
In order to make clear that you aren't a dogmatist, may I suggest the
following rewording: "According to the theory to which I subscribe, the
profit rate is clearly *rising*, toward a maximum given by the
output-to-capital ratio, but according to the TSS interpretation, the profit
rate of Marx's theory is clearly *falling*"?
David wrote: "This is, in classic terminology, a case with a constant organic
composition of capital (as appropriately defined) and a rising rate of
exploitation."
In order to avoid re-establishing an orthodox Marxism that claims to have a
"direct line to Marx," may I suggest the following rewording: "This is, in
classic terminology, a case with a constant organic composition of capital (as
I define it, perhaps differently from Marx) and a rising rate of
exploitation"?
Andrew Kliman