Re: [OPE-L] fully automated economy and capitalism

[glevy@xxxxxxxxx]

> I think though that we can at a very abstract level model a
> large number of growth processes via i/o tables. These have
> an implicit maximal growth rate. As a particular example of
> an i/o system a capitalist economy has a maximal growth rate
> which corresponds to the maximum profit rate.

Hi
Paul C:

A Marxian model of a 'maximal growth rate' was
suggested
by the late James F. Becker.  In his book,
he presents a
model complete with graphics which identifies the
maximum
rate of growth with the case where the rate of
unproductive
consumption (of surplus value) equals zero.  Ian W
might find
his model of interest because it concerns the
impact  on
accumulation  of  capitalist (unproductive)
consumption.

But, of course, Becker didn't deal with the case
of a fully
automated economy: rather, the basic
institutional
characteristics of a capitalist economy were
built
into his model.

In solidarity, Jerry