US farmers have a joke about how to get a million dollars: Inherit $10 million & farm for a few years. Actually, the big farmers do fairly well, especially with subsidies.
Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901 www.michaelperelman.wordpress.com -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Sabri Oncu Sent: Sunday, August 10, 2008 8:24 PM To: [email protected] Subject: [Pen-l] Re: hegemony Jim: > "normal" profits (the simple reward for owning capital in a capitalist > society) don't go to zero. Can you elaborate on this? My late grandfather used to own a huge farm: as a kid younger than a teenager in the late 1960s and early 1970s, it used to take me about four hours to walk from one extreme of the farm to the other, during which I had to cross a few creeks and a small forest, but eventually the "profits" went down to zero, if not below that, and the farm was sold! Today, there is nothing left from that farm to the survivors of the family! It is not just profits that may go below zero! Even the capital may vanish, does it not? Best, Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
