Re: existence of profits

[kk050@xxxxxxxxxxxxxxxxxxxxx]

As for the answer to debate over the existance of profit, the answer of Rochon
and that of Seccareccia are surely possible. However, they are based on the
assumption that all money, required to invest irrespective of variable or fixed
capital, is comen from bank credit.
I think that the assumption is inconsistent with stylized facts. Because the
investment is more and more independent of the external fund such as bollowing
from banks, as markets are global. Then if we assume that some part of
investment is financed from internal fund such as retained profit, we don't
have to be puzzuled by the existence of profit, do we?


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  Kazuhiro Kurose
  Graduate School of Economics and Business
  Administration, Hokkaido University
  Kita 9 Nishi 7, Kita-Ku, Sapporo, Japan
  060-0809
    TEL: +81-11-716-2111 ex:2786
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