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Re: [OPE-L] Stocks and flows in Marx's theory

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Hi Jurriaan:

The larger problem, imo, which arises with the modelling of stocks and 
flows in Marxian models and 'numerical illustrations' is that just about all
of them are *circulating capital models* and hence assume away stocks. 

In the rare instances in which fixed capital is included in those models
and numerical illustrations it is non-depreciating or other heroic assumptions
are made. 

It is a great failing of Marxian theory that no one (?) has developed a dynamic
model of a capitalist economy in which there is money capital, variable 
capital (above -0-!) ,  constant circulating capital, and constant fixed capital
which depreciates both physically and morally. 

In solidarity, Jerry

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