Constant Capital and the Crisis in Contemporary Capitalism: Echoes from the Late Nineteenth Century

“Constant Capital and the Crisis in Contemporary Capitalism: Echoes from the Late Nineteenth Century” looks at the current crisis in light of how economists showed a superior understanding of the way the economy worked during the late nineteenth century.

http://users.ntua.gr/jea/tua/journl/jea_volume1_issue1_pp34_41.pdf

Comments would be very much appreciated.

1 comment so far

  1. political economist on

    Michael,

    As usual, always a pleasure to read your work. Made me think of all the constant capital that is “fully depreciated” and moved somewhere else, like China. And of Motorola’s Iridium satellite program, perhaps the most massive, quick depreciation of capital.

    More substantively, I wondered why in Part II of your paper you did not include a fifth: the social relationship of capital to the state?

    One question of clarification: Near the top of page 38, 2nd sentence, didn’t understand what you meant “without knowledge of c, measurement of C becomes impossible.” I assume you meant OCC rather than C.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: