> Thanks for noting my "interesting question." Perhaps someday
> it will be addressed.
Well, there's no use putting off to tomorrow what we can address today
(NB: Beware the Ides of March!), so perhaps we can begin to address this
issue with an answer to the following.
> As long as we insist on measuring profitability as though
> fixed capital does not exist or, put another way, with a
> simple rate of profit calculation, the movements of capital
> from one sector to another in response to changes in
> profitability will appear mysterious.
How do you calculate individual and social value and profit once fixed
capital is taken into consideration?
I would be interested in your answer to that question.
I agree that this *process* can not be grasped with a simple formula,
but what is wrong with the following equation for the aggregate rate of
profit (other than the fact that there is no explanation below for *how*
it comes about)?
surplus value
------------------------------------------------------------------------
constant fixed capital + constant circulating capital + variable capital
In solidarity, Jerry