On Sun, 13 Mar 1994 21:41:57 -0800 Barkley Rosser said:
As near
as I can tell the only alternatives to supply and demand are either
Marx or (Gil Skillman and Jim Devine, are you reading?)
Of course I'm reading (though I'm dismayed at the large amount of
mail after leaving town for the weekend
On Mon, 14 Mar 1994 06:51:12 -0800 Rudy F. said:
The problem is that investment is a component of aggregate
demand but it also affects aggregate supply since
investment is the change in the capital stock.
but can't you say that the AS curve is drawn in the "Keynesian
short run" in which the
Peter D. writes:
I disagree with Rudy F about inflation being a mechanism that lowers real
wages, either logically or historically. Logically, of course, the circular
flow indicates that aggregate purchasing power remains unaffected, and the
main distributional effect of greater-than-expected
While making a list of the ?good things? that inflation can do, don't
overlook its wonderful effect on municipal debt loads. At nominal tax
dollars increase from income and upward pressure on property prices, the
real burden of the last spending round's accumulated debt falls away from
the city -
Jim D. writes:
but can't you say that the AS curve is drawn in the "Keynesian
short run" in which the stocks of means of production are
assumed to be given? Then capital investment leads to
shifts in the long-run AS curve over time...
The problem I see with this argument is that we tell
I would appreciate comments on: 1) the idea of a basic guaranteed income
for individuals, linked to distribution of available paid work via a much
shorter work week, incentives for education, community service,
environmental restoration, etc., other ideas, and 2) realistically, how
such an income
Barkley Rosser (hi, Barkley) takes exception with the way I pose the
point that labor values are at best superfluous:
I profoundly hesitate to get involved in the Cottrell-
Skillman-et-al controversies over Marx and the labor theory of
values. But, one point: From someone who does not
I guess this is one of those nostalgic periods on PEN-L when old
debates come back for a second run. Tom W. wonders how it can be
that, in one context, I claim that absolute advantage does not
rule because exchange rates need not adjust to balance the current
account, and in another I claim that
Forwarded message:
Date: Mon, 14 Mar 1994 18:46:21 GMT
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From: The Development GAP [EMAIL PROTECTED]
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Subject: FROM THE DEVELOPMENT GAP
~Date: Fri, 4 Mar 1994 12:25:19 -0800
~From: The Development GAP dgap
/* Written
Forwarded message:
Date: Mon, 14 Mar 1994 09:37:09 EST
Sender: Teaching and Research in Economic History [EMAIL PROTECTED]
From: Sam Williamson [EMAIL PROTECTED]
Organization: Miami University School of Business
Subject: Temporary Lectureship
Preliminary Announcement
The University
One of my students is researching the impact of World Bank/IMF structural
adjustment programs in Central America for a course he is taking in political
science. While he and I are familar with World Bank/IMF activities in Africa
(he is Nigerian) and the recent World Bank report on East Asia, we
The use-value of labour-power is not that it IS a quantity exceeding
its own (exchange)-value, but that it is a SOURCE of a quantity of
value exceeding its own EV, as one of Steve Keen's Marx quotes makes
clear. In addition, LP is only a POTENTIAL source of value (and thus
to an unquantifiable
We are currently putting together the programme for this year's
Conference of Socialist Economists annual conference.
CSE'94: SOCIALISMAND BEYOND?
University of Leeds, July 8th-10th 1994
Programme so far includes:
plenaries: on globalisation and on racism.
streams/workshops: capital,
It's confusing not to have PEN-L listed as the source of a message; the
new software makes everything look like pseudo-personalized direct mail.
And, at least on this system (PINE 3.05, on a Sun UNIX), you can't reply
to PEN-L; a reply goes to the author.
Can this be fixed? Or is this the price
First substantive remarks: On Sraffa-Steedman
==
1. There is no doubt a nice Latin name for the fallacy of seeking to
defend one's own position by attacking one's opponent's.
Nonetheless I will open by doing exactly that. Why? Because there
is
On Sun, 13 Mar 1994 21:41:57 -0800 Barkley Rosser said:
As near
as I can tell the only alternatives to supply and demand are either
Marx or (Gil Skillman and Jim Devine, are you reading?)
Of course I'm reading (though I'm dismayed at the large amount of
mail after leaving town for the weekend
On Mon, 14 Mar 1994 06:51:12 -0800 Rudy F. said:
The problem is that investment is a component of aggregate
demand but it also affects aggregate supply since
investment is the change in the capital stock.
but can't you say that the AS curve is drawn in the "Keynesian
short run" in which the
On Mon, 14 Mar 1994 07:41:02 -0800 Doug H. said:
I thought Keynes liked the idea of inflation subtly lowering real wages.
Is this a Marxist slander against him?
No it isn't. In the GT, Keynes saw inflation exactly in this way.
Tarshis and Dunlop criticized his assumption that real wages fall as
On Sun, 13 Mar 1994 23:52:00 -0800 Gil said:
This is to continue my dialogue with Allin C. concerning the results
he and a coauthor recently obtained, which are consistent with
earlier work by Shaikh and others, to the effect that values diverge
very little from prices of production in fact. I
While making a list of the ?good things? that inflation can do, don't
overlook its wonderful effect on municipal debt loads. At nominal tax
dollars increase from income and upward pressure on property prices, the
real burden of the last spending round's accumulated debt falls away from
the city -
Jim D. writes:
but can't you say that the AS curve is drawn in the "Keynesian
short run" in which the stocks of means of production are
assumed to be given? Then capital investment leads to
shifts in the long-run AS curve over time...
The problem I see with this argument is that we tell
Peter:
1) I am glad to hear that you are free of sin, my brother, in
your (past) teaching of micro. However in your remarks about
"microland is faster than macroland" I would say it ain't necessarily
so, especially when prices are a signaling device. We have seen
plenty sudden speculative
1. At this point I shall digress briefly to cover a flank, i.e. to address a
concern that I suspect many students of Marxism may have.
2. I appear to be treating the LTV and the Sraffian system as
alternative theories of (the "systematic component" of) relative prices.
But isn't this to
On the question of whether use-value is quantitative or not, I
won't say anything. Hugo Radice said what I wanted to say.
But I don't think use-value is irrelevant to Marx's political
economy. He abstracts from it at the beginning of CAPITAL.
All that's necessary is that a commodity have a
There is one other complication in the question about inflation and real
wages: Many of the people in the working class are NET DEBTORS. This is
particularly true of the section that owns their own homes -- as well as those
who are struggling to get out of the working class with heavy student
Forwarded message:
Date: Mon, 14 Mar 1994 18:46:21 GMT
Sender: Activists Mailing List [EMAIL PROTECTED]
From: The Development GAP [EMAIL PROTECTED]
Organization: ?
Subject: FROM THE DEVELOPMENT GAP
~Date: Fri, 4 Mar 1994 12:25:19 -0800
~From: The Development GAP dgap
/* Written
I guess this is one of those nostalgic periods on PEN-L when old
debates come back for a second run. Tom W. wonders how it can be
that, in one context, I claim that absolute advantage does not
rule because exchange rates need not adjust to balance the current
account, and in another I claim that
Forwarded message:
Date: Mon, 14 Mar 1994 09:37:09 EST
Sender: Teaching and Research in Economic History [EMAIL PROTECTED]
From: Sam Williamson [EMAIL PROTECTED]
Organization: Miami University School of Business
Subject: Temporary Lectureship
Preliminary Announcement
The University
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