Date: Thu, 7 Mar 96 11:30:33 GMT
From: Adam Rose <adam-AT-pmel.com>
Subject: Re: "Value Pump"



> 
> I have to side with Rakesh (who seems to be back from the viral dead) on 
> this one. The only reason I know what the hell he's talking about is 
> because I happened across a work called _Frontiers of Political Economy_ 
> by Guglielmo Carchedi, wherein is explained all this stuff about 
> equilization of the rate of profit and surplus profit, etc. Please 
> correct me if I'm wrong, but as far as I can see, the process of drawing 
> off the surplus profit exists not *in order to* equilize the rate of 
> profit, but rather the other way around: the tendency towards the 
> equilization of the rate of profit generates an uneven distribution of 
> the surplus value on the basis of the differing organic compositions. 
> Thus disequilibrium.

I don't understand.
Could you explain ?

Also, a Question :

I instinctively feel that sectors with a high organic composition
are the most profitable eg the British based Chemical industry is one of
the few industries which is internationally competitive. Yet the assumption
is that low organic composition industries generate more surplus. I just
don't believe this. I think that perhaps the key is that the rate of
exploitation is also different.

Adam.




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