Printing Money -Reply -Reply

[Louis-Phillippe Rochon (Louis-Phillippe Rochon) <148756@xxxxxxxxxxxxx>]

Dear Paul,

Thanks for the tip regarding the forthcoming article in the JPKE.  I am
particularly interested in the repayment of past credit for many reasons.
Chief among these is the thought of the mark-up being somehow linked to
what I call "the degree of reflux".  In conventional terms (it is strane to
use the word 'coventional' with PK theory", the mark-up has been
associated with planned investment, ie to raise to necessary funds to
carry out planned investment.  However, if credit is used to cover
circulating AND fixed capital, then if we consider the payback of existing
credit, perhaps the mark-up is set in order to raise the necessary funds
to cover PAST investment.  I admit I haven't flushed out all the details, but
it would appear to be more consistent with such authors as Graziani and
Parguez.

Any opinion?

Louis-Philippe