Gil, Other than as an exercise in gaining clarification concerning Marx's terminology and thus in extending his efforts, how is the Okishio Theorem relevant or "useful." Note that for Okishio not only is the real wage constant but all prices used in determining whether or not the rate of profit fall are "equilibrium" prices determined with the assumption that all capitals earn the same rate of profit. I find this result not only of little use but also one absent in Marx's CAPITAL. Note that the concepts of "market value" and of "market price" are both introduced prior to the discussion of "the law of the tendency of the rate of profit to fall." Thus, the question concerning the fall in the rate of profit should, at least, consider an "equilibrium" condition in which the rates of profit are not equal. In an earlier plan for the third book o CAPITAL, Marx actually planned to discuss the concept of rent prior to introducing the concept of the falling rate of profit. I realize that this may make mathematical exercises concerning the falling rate of profit somewhat more complex, but they may yield something that relates to Marx's work. Marx himself makes a slightly different point in Part III of Book III when he notes that if price reductions due to increases in productivity are uniform, the rate of profit will not fall. John