[lbo-talk] Delong puts the smackdown on ol' Whiskers

[T Fast]

Andie writes:
> I don't know hoe much productivity growth is due to
> R&D and investment in new plant and equipment, as well
> as building up necessary cash reserves and acquiring
> long term assets liquid and other, but isn't that the
> modern equivalent of "abstinence," where dividents and
> executive jets are indulgence?
>
This is a total misunderstanding of the Marx's argument.  The question is 
about what is origin of surplus value not about how that surplus value is 
spent whether that be on Jets, R&D, hookers or is saved.  In your model 
investment in R&D is for example paid by thrift, what Marx wants to know is 
what is the source of that revenue that the capitalist can exercise thrift 
over.  Brad's farmers will not generalize to your argument.

Travis