Michael L. touched on what I consider to be the most important and least acknowledged part of the falling rate of profit -- the destruction of the values of constant capital. Imagine you need the latest technology to remain competitive. You buy a new computer, only to find that next week it is obsolete, long before you have a chance to earn an equivalent value.
Even with a high rate of surplus value, you will not make a profit. You may make an healthy profit based on current costs, but the loss of capital values will negate the current profits. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
