Gar Lipow wrote: > Going to your source, profits have been rising faster than investment (minus > a blip after the crash. Profits now recovered.) So profit rate has been > rising since 1987. Now I know Marx is a long term thinker and global, but > still maybe there is something wrong with the whole idea that capitalism > necessarily suffers from falling profits...<
the falling rate of profit theory is fundamentally flawed, which shouldn't be surprising since Marx never really finished developing a theory of the tendency for the rate of profit to fall. (It didn't used to be the "orthodox" theory either: for a long time, "disproportionality" theories dominated.) FWIW, I only referred to the fall of the rate of profit going out of the 1960s (in the US), not to some long-term trend. > How vital is "falling rate of profit" to modern Marxist thinking? not very. It's one theory. > Does the rest of Marxism really depend on it being true? < no. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
