On Mar 27, 2008, at 1:54 PM, Michael Perelman wrote:
I did not say that the devaluation of constant capital necessarily causes a falling rate of profit, only that it can. I believe that it did during the late 19th C.
Which, in the U.S. was a period of strong growth (despite recurrent panics and deflations) - over 4% on average. So does this observation pass the "so what?" test?
Doug _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
