> On Point 1. Here we have to question Marx, do we not? If
> capitalists are maximizing the RRI and not the rate of profit,
> why there would be any tendency for the rates of profit to
> equalize is unclear. Again, Marx like the political
> economists of the 19th Century was clearly mistaken.
And he added in [OPE-L:944]:
> As Fred pointed out to me a while ago, fixed capital is present as
> Marx proceeds with the transformation of values to prices of production
> in Ch. 9 of V3. Given that, would you not use Sraffa's notion of
> joint production to compute the rate of profit? This rate of profit
> is, for me, the RRI and not the simple rate of profit Marx and Fred
> compute.
What is the *formula* that you are using for the RRI?
In solidarity, Jerry