Ajit writes: "The *Law of Chaos* crowd seems to be obsessed with "actual prices"--appearances, appearances, appearances-- what Marx called the obsession of vulgar economics." As a member of that "crowd," I must reject that characterization. Rather, my view is that there are two fundmental tendencies: (1) on the level of synchonics (cross-sectional analysis), there is a tendency for rate of profit to be equalized; and (2) on the level of diachronics (time-series), there is a tendency for them to be disequalized, if that is a word: uneven technical change, centralization of capital, crises, etc. Both of these are inherent in capitalism's normal operations. I simply think that Marx didn't face up to the implications of his own theory. This shouldn't surprise us, since he never finished vol. III. in pen-l solidarity, Jim Devine [EMAIL PROTECTED] or [EMAIL PROTECTED] Econ. Dept., Loyola Marymount Univ., Los Angeles, CA 90045-2699 USA 310/338-2948 (daytime, during workweek); FAX: 310/338-1950 "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- K. Marx, paraphrasing Dante A.
