Doug Henwood wrote:
There was a tremendous recovery in profitability, by bourgeois
measurements,
But that's not good enough for a Marxist like yourself, is it. You would
want to quickly deploy the Dumenil/Levy recalculation of US profit rates
net of interest expenditure, wouldn't you, Doug? (You remember, from our
once meant-to-be joint paper on the global capitalist crisis, circa a
year ago?)
between 1982 and 1997. It fell back into 2002, and then rose again
into 2006. But I realize that since these stats haven't been put
through the magic value machine, they don't reveal the deep truths of
capitalism, which apparently no one knows because no one's done the
work in 46 years.
Again using bourgeois stats, the ratio of tangible capital to GDP for
nonfinancial corps
And what's a nonfinancial corp when so many nonfinancial corps have had
such a huge rise in earnings since the 1980s that can be attributed to
their financial/real estate - not productive - activities?
Do you not get a bit wary of relying upon bourgeois stats? Does it not
perhaps distract you from underlying crisis tendencies, dear comrade?
:-)
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