ABSTRACT
The most striking immediate result of PCMC undoubtedly is this: if only we know the profit rate, the complex of all prices is known on the basis of the given methods of production; and nothing is known about it if we do not know the rate of profit (or the wage rate or some other determinant of income distribution). The final proof that the system cannot be closed by equations for supply of and demand for ‘capital’, not even through Walrasian equilibrium conditions can only result from further complicated arguments. (As regards the Walrasian case, the argument has not yet been presented in a definitive form.) One might ask how the system can be closed through other forces. Assuming that the answer ‘supply and demand’ is unacceptable, the answer evidently has to point in the direction of ‘power’, ‘conflict’, ‘history’. But how are these mediated?
