On March 1, Jim Devine quoted my 26 Feb posting:
"(concerning the quote from Marx about M-M')
Re whether the analysis fits within the structure of volume
I of capital. I would argue that it can, as I detailed beforehand,
but that there's no way Marx (or I) argued that it is a source of
On Thu, 03 Mar 1994 07:35:06 +1000 Steve Keen said:
First of all, the original quote:
"As in the case of labour-power, the use-value of money here
is its capacity of creating value--a value greater than it
contains." Capital Vol 3, p. 392.
It is clear from that quote that--in this context--Marx
I think that the major factor behind the growth
of college tuition is the growth of administrative
bureaucracy. This is certainly the case at most
state institutions. I am not sure about private
institutions. We have increasing numbers of
Vice presidents, Associate Vice presidents, Assistant
I concur with Michael Perelman's assessment. Nike's profits, the
obscene retail price-to-labor cost ratio, and athletic shoe industry
conduct follow directly from high sunk costs attributable to
extensive advertising for product differentiation and proliferation
(two distinct concepts --
On the college fees tuition question, a couple answers have been
offered so far:
1. Inflating administrative budgets
2. Capital improvements to attract corporate investment
My experience with the University of California is that the more than
doubling in fees we've experienced over the past
Barring a last-minute change in programming plans (always a possibility
in today's powderkeg world), the PBS McNeil-Lehrer news show tomorrow
-- Friday evening, March 4 -- will include a discussion with PEN-L's own
David Gordon and his brother Robert on the state and medium-term
trajectory of the
On March 1, Jim Devine quoted my 26 Feb posting:
"(concerning the quote from Marx about M-M')
Re whether the analysis fits within the structure of volume
I of capital. I would argue that it can, as I detailed beforehand,
but that there's no way Marx (or I) argued that it is a source of
Posted on 3 Mar 1994 at 02:21:43 by Uriacc Mailer (002033)
space (i.e., where we actual stand)
From: [EMAIL PROTECTED]
Date: 02 Mar 1994 22:30:28 -0800 (PST)
I am not about to jump into Gil and Ajit's debates on GE and Sraffa. Not
my cup of tea. But something Jim Devine said, along with the
Someone asked why college tuitions are skyrocketing much greater than the
rate of inflation. My understanding is that it has something to do with
boards of trustees, etc., undertaking massive capital improvement drives
(i.e. building high-tech bioengineering and other hard science labs) in
order
On Thu, 03 Mar 1994 07:35:06 +1000 Steve Keen said:
First of all, the original quote:
"As in the case of labour-power, the use-value of money here
is its capacity of creating value--a value greater than it
contains." Capital Vol 3, p. 392.
It is clear from that quote that--in this context--Marx
Soon after arriving at Cambridge in 1928, Sraffa explained the basic idea of
PCMC to Keynes; to which Keynes is reported to have made this remark to his
wife Lydia: "On Saturday I had a long talk with Sraffa about his work. It is a
very interesting and ORIGINAL--but I wonder whether his class
a query relevant to John Gulick's last message: how much does a year
in prison cost, relative to a year at the University of California?
in pen solidarity,
Jim Devine BITNET: jndf@lmuacadINTERNET: [EMAIL PROTECTED]
Econ. Dept., Loyola Marymount Univ., Los Angeles, CA 90045-2699 USA
This may be of interest to other penners. --Alan G. Isaac
Original message
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Barring a last-minute change in programming plans (always a possibility
in today's powderkeg world), the PBS McNeil-Lehrer news show tomorrow
-- Friday evening, March 4 -- will include a discussion with PEN-L's own
David Gordon and his brother Robert on the state and medium-term
trajectory of the
Steve Keen, i guess inadvertently, sent this posting to me. I'm forwarding it
to the net since it appears to be intended for it. Ajit Sinha
Original message
A brief (supportive) comment on Ajit's posting re Sraffa. Since his
purpose was
There were some interesting comments by Michael R.
Morgenstern on H-URBAN on New Deal relief:
"Hopkins sought to preserve the skills of the
unemployed through work relief, a major rationale for
the WPA, for future employment. As such, the remark
On the college fees tuition question, a couple answers have been
offered so far:
1. Inflating administrative budgets
2. Capital improvements to attract corporate investment
My experience with the University of California is that the more than
doubling in fees we've experienced over the past
In reply to Tom, surely this is exactly what one would expect from
a Ricardian or Marxian analysis. The price of a commodity depends upon
the amount of labour required for its production not upon the level of
wages. If wages fall then profits rise but the commodity gets no cheaper.
Only a
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