[PEN-L:33721] Re: RE: Rates of Profit: Recent Estimates

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

To beat on a not yet dead horse, of the major problems in estimating a
rate of profit is the denominator -- the capital stock.  Most of the
debates center around the measurement of total profits, but the capital
stock is the truly difficult part to measure.

In recent decades, investment has been shifting from long-lived capital
goods and buildings to capital goods of a very uncertain lifetime.  I
believe that even software is now suppose to be part of the capital stock,
but I'm not sure.

 --
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx