On Mar 19, 2008, at 4:09 PM, Patrick Bond wrote:
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?
Why exclude interest? It's an expense, no? U.S. corps have been flush with cash, at least until very recently. If you told a CEO or a stock trader that there was a profitability crisis they'd think you're insane.
Do you not get a bit wary of relying upon bourgeois stats? Does it not perhaps distract you from underlying crisis tendencies, dear comrade?
We've disagreed on crisis tendencies for the last 16-17 years, and I've turned out to have been right. I don't know how this one's going to turn out, but I'd say there's a good possibility it could get ugly. But who knows at this point? If you say "Falling rate of profit! Crisis around the corner!" for 20 or 30 years during which profits are mostly rising and such a crisis doesn't materialize, what have you gained?
Doug _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
