Some yes, some no. The cotton gin in the south transformed cotton production
almost over night. However, the sewing machine was around for a few decades
before it came into wide use in shoe binding and ready made clothing.
Crompton's mule (mechanized yarn spinning) and other technology only
It seems to me that this whole discussion is taking place around
a very limited understanding of long wave/swing theory, of which
Schumpeter's model is only one (of many) theoretical variants.
First, there is the implication in this stream that there is
some form of cyclical nature to this
RE this discussion of Marx's theory of the interest rate.
I've been considering recently the notion of "averages" in
Marx's theory and its possible relationship to the notion
of "averages" in mid-19th century statistical theory. Here
are some not-too-well-thought-out ideas related to that which
We now know how to determine important fragments from
unimportant ones: Their length and the number of times
Marx broke off in mid-sentence because his train of thought
had shifted to some other topic. We are dealing, for
the most part, with stream of consciousness writing. Given
the number of
Max S. writes:..."Government" connotes more of an alien
presence [than "public"], though I use the term as much as
anyone. I would like to point out that a rhetorical device of the
Right is to distinguish government from public in the same way. I
was debating a goober named Grover Norquist on
Tom Dickens writes, in part,
Gil Skillman has provided us with "the key passage" concerning
this issue. I like that. Whan sifting through a mass of
fragments that Engels admitted to not knowing how to make
sense of, how does Gil Skillman identify the key passages?
I'm glad you like it, Tom,
Trevor Evans now appears to hold the position that, for Marx, the
market interest rate fluctuates around an average level which
is determined by, "amongst other things, . the relative strength
of industrial capital and financial capital, institutional
factors and even convention." Can we thus
Doug,
Of course Japan's growth has been totally flat in the
90s. But, part of my wild speculation is that they may
well play a very important well in the upswing, once it
really takes off after 2000, and after they have completed
the major shakeout currently under way. Some other
In response to the following passage by Trevor Evans,
And yet...Marx and Keynes both argued that the interest rate
is determined by the relative balance of supply and demand
in the market for money capital.
Edwin (AKA Tom) Dickens asks:
Where did they do that?
The key passage is in Volume
Doug,
I agree that 2.5% is fairly puny, although this may be
understating things, as I have suggested and a lot of
people think, based on measurement problems. But, if you
read my statement carefully I said "compared to its past
relative performance." Thus, how does that 2.5% compare
At 9:46 AM 1/10/97, Rosser Jr, John Barkley wrote:
I also
note that the US is way ahead of everybody else in this
area and has been growing more than a lot of other
economies in recent years, that is compared to its
own past relative performance, perhaps partly as a result
of the early effects
From [EMAIL PROTECTED] Fri Jan 10 06:29 PST 1997
Date: 10 Jan 97 09:27:33 EST
From: "Eduardo E. Diaz" [EMAIL PROTECTED]
To: Sid Shniad [EMAIL PROTECTED]
Subject: Sprint La Conexion Familiar
CWA News Release
For More Information:
Jeff Miller, CWA Communications Dept, 202/434-1168
Doug,
The place to see Schumpeter's arguments is in his
magisterial _Business Cycles_ and to a lesser degree in
his _Theory of Economic Development_. Yes, he argues that
it takes a certain period of time for a new technology to
really have an impact on an economy, kind of a critical
I don't know my Schumpeter very well, or long-wave theory either, but
computers and related instruments have been around for quite a long time
now - in use by governments since the 1950s, and by business since the
1960s. Did earlier transformative technologies - steam engine, railroad,
car, radio
On 9 Jan 97 at 15:05, [EMAIL PROTECTED] wrote:
. . .
Please, let's not talk about the _public_ (or worse, the
_national_) debt. Rather, it's the _government's_ debt. Sure, it
might be argued that the U.S. "public" (whoever that is) owns the
government, so that the "public" is
--
From: Hoyle_K
Sent: Thursday, January 09, 1997 5:30 PM
To: DailyReport
Subject:BLS Daily Report
BLS DAILY REPORT, THURSDAY, JANUARY 9, 1997
RELEASED TODAY: The Producer Price Index for Finished Goods advanced
0.5 percent in December, following increases of 0.4
Edwin Dickens asks where Marx and Keynes state that the rate of interest is
determined by the balance of supply and demand for loan capital.
In Capital, vol. 3, Marx distinguishes between the avarage rate of interest
and the market rate of interest. The first refers to the average over the
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