[PEN-L:4228] Re: Mexico

I would second Barkley's note re. Sid Shniad postings. So long as they don't come too thick and fast, Sid is doing us a valuable service. ====== Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

[PEN-L:4153] Re: "story"

atures of the real, or to interpret the results obtained in terms of real processes, is set off as 'story'-telling. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

[PEN-L:3995] Veblen and the neoclassical agent

precise citation for these remarks? Thanks. === Allin Cottrell Department of Economics Wake Forest University Winston-Salem, NC, USA (910) 759-5762 ===

Re: More Pn vs. PI

seemingly automatic presumption that the proper result of such an analysis is always to favor the status quo. Flame-throwers at the ready? === Allin Cottrell Department of Economics Wake Forest University Winston-Salem, NC 27109 (910) 759-5762 [EMAIL PROTECTED] ===

Re: The Hayek critique

ashed defense of a variant of economy-wide planning. Paul and I also have a working paper that deals specifically with Hayek's 1945 article, 'The Use of Knowledge in Society', which we hope to publish somewhere before long. === Allin Cottrell Department of Econom

Re:discussion of coupon socialism

ive at colorado (ftp to csf.colorado.edu, then go to the sub-dir /econ/authors/Cottrell.Allin. The file is vms.ps.) === Allin Cottrell Department of Economics Wake Forest University Winston-Salem, NC 27109 (910) 759-5762 [EMAIL PROTECTED] ===

Re: Broken vows & Coase

r having a lot more to say about the existence of firms than do modern neoclassicals. I can't remember the title offhand, but it's in a volume edited by Langlois, entitled "Economics as a Process." === Allin Cottrell Department of Economics Wake Forest Unive

new socialism book

elphia, PA 19147. Ph. (215) 925-2762; fax (215) 925-1912. (Since Paul and I are getting no royalties, advertising in this medium does not seem out of order.) You can see a description of the contents in the September 1994 issue of the JEL. ======= Allin Cottrell Department of

Re: Need quotes critique utopian socialism

MANIFESTO and Engel's >comments in ANTI-DUHRING. You need more than that? > >Harry > > Also: Engels's "Socialism: Utopian and Scientific" and Marx's "Poverty of Philosophy". === Allin Cottrell Department of Economics Wake Forest University Winston-Salem, NC 27109 (910) 759-5762 ===

Re: gopher pen-l

>could someone give me the gopher path if one wants to consult the >pen-l archives? or the pkt archives? thanks ahead of time. > csf.colorado.edu: Heterodox Economics/Archives: Pkt ======= Allin Cottrell Department of Economics Wake Forest University Winston-Salem, NC 2

Re: rate of profit

should be pointed out that the theoretical problems in measuring the capital stock are more severe than those involved in measuring the flow of profit income. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

Re: GE & Appearances -- III (very long!

though there may be other problems with this formulation). The point is that labor-power, since it is not produced under capitalistic conditions, via a process that participates in the formation of a general rate of profit, *doesn't have* a "price of production" in Marx's se

LTV: responses to critics

"factored into" a scalar representation of cost: they must, if people regard them as important, be imposed as external constraints on narrowly "economic" calculation. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV: responses to critics

"factored into" a scalar representation of cost: they must, if people regard them as important, be imposed as external constraints on narrowly "economic" calculation. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

Re: Allin C and LAWS OF CHAOS

is that it does not abstract from an *essential* feature of the process of capitalist competition. The F and M argument has its weak points, and is certainly not beyond criticism; but I find Ajit's dismissal patronizing and complacent. ====== Allin Cottrell Department

Re: Allin C and LAWS OF CHAOS

is that it does not abstract from an *essential* feature of the process of capitalist competition. The F and M argument has its weak points, and is certainly not beyond criticism; but I find Ajit's dismissal patronizing and complacent. ====== Allin Cottrell Department

LTV: Responses to critics

rofit income of capitalists (and the real interest-income of rentiers, and the real rental income of landlords) is properly conceived as the proceeds of the exploitation of (extraction of surplus labor from) productive labor? Yes, I do. The arguments in the last several "LTV Defense" po

LTV: Responses to critics

rofit income of capitalists (and the real interest-income of rentiers, and the real rental income of landlords) is properly conceived as the proceeds of the exploitation of (extraction of surplus labor from) productive labor? Yes, I do. The arguments in the last several "LTV Defense" po

LTV

This is just a holding note, to thank Steve Keen and Barkley Rosser for their questions (and to thank Barkley for his praise). I will try to get around to answering the questions before long. == Allin Cottrell Department of Economics Wake Forest University [EMAIL

LTV

This is just a holding note, to thank Steve Keen and Barkley Rosser for their questions (and to thank Barkley for his praise). I will try to get around to answering the questions before long. == Allin Cottrell Department of Economics Wake Forest University [EMAIL

LTV defense, part 12 (and final)

1, 1993; an earlier paper, expanding on different aspects of the issue, may be found in Economy and Society, vol. 18, no. 1, 1989. Thanks to everyone who offered encouragement along the way, and I hope these postings have been of some use-value. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 12 (and final)

1, 1993; an earlier paper, expanding on different aspects of the issue, may be found in Economy and Society, vol. 18, no. 1, 1989. Thanks to everyone who offered encouragement along the way, and I hope these postings have been of some use-value. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

pen and pine, again

one to PEN (concerning SISLAM's non-existence) came to me instead. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

pen and pine, again

one to PEN (concerning SISLAM's non-existence) came to me instead. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 11

any X that (a) is 'basic' in the technical sense, (b) is only weakly producible and (c) may be conceived as homogeneous as a tolerable first approximation. Coming up: Some final suggestions on why the LTV is properly privileged over any other XTV. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 11

any X that (a) is 'basic' in the technical sense, (b) is only weakly producible and (c) may be conceived as homogeneous as a tolerable first approximation. Coming up: Some final suggestions on why the LTV is properly privileged over any other XTV. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

Re: "It's not Marx"

would still be exploitation. Thus I feel that Jim has this point backwards. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

Re: "It's not Marx"

would still be exploitation. Thus I feel that Jim has this point backwards. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 10

e means of production may be applicable to the struggle of landless peasants against a landlord class -- for the redistribution of land -- but it is not applicable to the struggle of wage-workers against a capitalist class. Next time I'll begin on my final topic, a fuller defense of the 'specialness' of labor as it relates to the LTV. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 10

e means of production may be applicable to the struggle of landless peasants against a landlord class -- for the redistribution of land -- but it is not applicable to the struggle of wage-workers against a capitalist class. Next time I'll begin on my final topic, a fuller defense of the 'specialness' of labor as it relates to the LTV. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

"It's not Marx"

ain, price movements. When Marx repeats this point, a couple of pages later, it is bracketed by two positive references to Ricardo. Come on, Jim, who is re-writing history here? == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

"It's not Marx"

ain, price movements. When Marx repeats this point, a couple of pages later, it is bracketed by two positive references to Ricardo. Come on, Jim, who is re-writing history here? == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 9

#x27; get produced. Labor's special role -- in this context -- consists in the fact that its use is *not* optional (short of a science-fiction world of complete automation). Labor is not employed because it 'happens to be exploitable', but rather it is the exploitability of (non-optional) labor that explains the possibility of profit. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 9

#x27; get produced. Labor's special role -- in this context -- consists in the fact that its use is *not* optional (short of a science-fiction world of complete automation). Labor is not employed because it 'happens to be exploitable', but rather it is the exploitability of (non-optional) labor that explains the possibility of profit. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, digression

ional to socially-necessary labor content is conceived by Marx as the specific manifestation, under capitalism, of the "necessity of the distribution of social labour in specific proportions" in order to satisfy the conditions of reproduction of any economic formation. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, digression

ional to socially-necessary labor content is conceived by Marx as the specific manifestation, under capitalism, of the "necessity of the distribution of social labour in specific proportions" in order to satisfy the conditions of reproduction of any economic formation. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

pen and pine

e Sender field. That would identify the source OK, but still means that we wouldn't have the option of using the Reply command to dash off a response to the list, without having to type in the PEN address. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

pen and pine

e Sender field. That would identify the source OK, but still means that we wouldn't have the option of using the Reply command to dash off a response to the list, without having to type in the PEN address. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 8

is self-evident that this necessity of the distribution of social labour in specific proportions is certainly not abolished by the specific form of social production; it can only change its form of manifestation. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 8

is self-evident that this necessity of the distribution of social labour in specific proportions is certainly not abolished by the specific form of social production; it can only change its form of manifestation. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 7

t after all, what is really special about labor? Couldn't you do the same sort of statistical number using oil-content, timber-content or what-have-you? Why is the LTV of any more intrinsic significance than the OTV or the TTV? End of seventh message. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 7

t after all, what is really special about labor? Couldn't you do the same sort of statistical number using oil-content, timber-content or what-have-you? Why is the LTV of any more intrinsic significance than the OTV or the TTV? End of seventh message. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 6

n of the LTV: the job can, however, be done. I think the second interpretation is the right one. More later. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 6

n of the LTV: the job can, however, be done. I think the second interpretation is the right one. More later. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 5

s to reduce the price for computers consistent with the computer industry earning the average rate of profit -- seems not to offer any real explanatory purchase at all. End of posting the fifth. Coming up: Does the LTV have a credible mechanism? ====== Allin Cottrell

LTV defense, part 5

s to reduce the price for computers consistent with the computer industry earning the average rate of profit -- seems not to offer any real explanatory purchase at all. End of posting the fifth. Coming up: Does the LTV have a credible mechanism? ====== Allin Cottrell

LTV defense, part 4

s prices of production/Sraffian prices -- but why should *that* be one's theoretical terminus if one's ultimate object is to analyze real economies and their laws of motion? End of posting the fourth. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 4

s prices of production/Sraffian prices -- but why should *that* be one's theoretical terminus if one's ultimate object is to analyze real economies and their laws of motion? End of posting the fourth. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 3

effects, which can be distinguished from the effects of the disturbing factors. [Paras 5-7 above are based on notes made by Paul Cockshott.] End of third posting. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 3

effects, which can be distinguished from the effects of the disturbing factors. [Paras 5-7 above are based on notes made by Paul Cockshott.] End of third posting. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 2

I have made this point before, but I wanted to set it out systematically before developing its implications. End of second posting. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense, part 2

I have made this point before, but I wanted to set it out systematically before developing its implications. End of second posting. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense

m* (IMO). I will have some comments to make about that argument, but not at first. End of preface. End of first posting. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

LTV defense

m* (IMO). I will have some comments to make about that argument, but not at first. End of preface. End of first posting. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

RE: marx on money

m in the dustbin of history (of economic thought)? Yes. Am I willing to back this up with a posting of specific criticisms of Roemer-Elster arguments, plus specific positive theoretical arguments for the LTV? Well, maybe. Would anyone be interested? Well, would they? == Alli

RE: marx on money

m in the dustbin of history (of economic thought)? Yes. Am I willing to back this up with a posting of specific criticisms of Roemer-Elster arguments, plus specific positive theoretical arguments for the LTV? Well, maybe. Would anyone be interested? Well, would they? == Alli

Re: the aggregate demand curve

than monetary expansion as such: fiscal policy or swings in private-sector investment demand. In AD/AS models, this will cause a temporary departure from potential gnp, which will in turn cause a change in inflation relative to money growth. Integrated over time, this amounts to a change in the price l

Re: the aggregate demand curve

than monetary expansion as such: fiscal policy or swings in private-sector investment demand. In AD/AS models, this will cause a temporary departure from potential gnp, which will in turn cause a change in inflation relative to money growth. Integrated over time, this amounts to a change in the price l

Re: the aggregate demand curve

ticularly questionable when it comes to the supposedly demand-enhancing effect of a _fall_ in the price level) -- I'm just trying to set out its logic. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

Re: the aggregate demand curve

ticularly questionable when it comes to the supposedly demand-enhancing effect of a _fall_ in the price level) -- I'm just trying to set out its logic. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

RE: marx on money

cently replicated Shaikh's study using the 1984 UK input-output tables: our findings were essentially the same. Ricardo and Marx were right: the labor theory of value stands up to empirical scrutiny as well as just about any theory in economics, and better than most!

RE: marx on money

cently replicated Shaikh's study using the 1984 UK input-output tables: our findings were essentially the same. Ricardo and Marx were right: the labor theory of value stands up to empirical scrutiny as well as just about any theory in economics, and better than most!

Re: Interest rates and politics

. On the supply side, lenders should be willing to lend at lower rates, the _safer_ that lending appears to be. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

Re: Interest rates and politics

. On the supply side, lenders should be willing to lend at lower rates, the _safer_ that lending appears to be. == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

Slavery and capitalism

al market within the slave system would have been too restricted). == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

Slavery and capitalism

al market within the slave system would have been too restricted). == Allin Cottrell Department of Economics Wake Forest University [EMAIL PROTECTED] (910) 759-5762 ==

Various debates

ld we take this? I'm not aware that Keynes ever spelled out what he meant by this, or discussed the sort of institutions that would be required to undertake this "socialisation," but on the face of it, it sure sounds like planning. No, it's not on the US agenda for the near f

Various debates

ld we take this? I'm not aware that Keynes ever spelled out what he meant by this, or discussed the sort of institutions that would be required to undertake this "socialisation," but on the face of it, it sure sounds like planning. No, it's not on the US agenda for the near f