A while back I forwarded a message concerning this subject to Anwar Shaikh. Here is his reply--better late than never! Mat
-----Original Message----- From: Anwar Shaikh [mailto:[EMAIL PROTECTED]] Sent: Tuesday, July 09, 2002 5:12 PM Response to Eric Nilsson Dear Eric The issue you raise is discussed, theoretically and empirically, in our book on pp. 173-181, in the discussion of Mage's work (who essentially uses the approach you outline). [A. Shaikh and E.A. Tonak, Measuring the Wealth of Nations, Cambridge, 1994] The difference in the two methods is huge: for 1958, Mage's method yields a measure of the surplus of 60.461 billion $(Table M.5, p. 355), while ours yields 256.15 bill $ (Table H.1, line 1). See also Fig 6.7 on p. 181, which shows the difference graphically in terms of the corresponding estimates of the rate of surplus value. Hope this helps. Anwar Anwar Shaikh Professor Department of Economics Graduate Faculty New School University 65 Fifth Avenue New York, N.Y. 10003 Tel: 212 229-5729 Fax: 212 229-5724 Email: [EMAIL PROTECTED] Homepage: http://homepage.newschool.edu/~AShaikh
