Jerry (no known relation to Dominique) Levy asks: >>Jim: You wouldn't call the period since 1952 [44 years] the "long run"? Given what Dumenil & Levy ... write ..., isn't Alejandro's quote accurate?<< I don't know what exactly Alejandro was saying (and I do not want to argue with him), but since he cited an article about the trend of the US profit rate since 1869, I assumed he meant that the profit rate had trended down since 1869. Whether or not 44 years is the long run depends on one's frame of reference. That the profit rate trended down since the 1950s is clearly of extreme importance. But then again is the recent revival of profit rates since the 1980s (BTW, D & L's series ends in 1989). in pen-l solidarity, Jim Devine [EMAIL PROTECTED] <[EMAIL PROTECTED]> Econ. Dept., Loyola Marymount Univ. 7900 Loyola Blvd., Los Angeles, CA 90045-8410 USA 310/338-2948 (daytime, during workweek); FAX: 310/338-1950 "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- K. Marx, paraphrasing Dante A.
