Hello Gar, I agree on all counts with Jim.
With the growth of monopoly, the opposite is the case: the surplus tends to rise yet there is nowhere to invest it. Best, Jamil On Nov 19, 2012, at 9:31 PM, Jim Devine <[email protected]> wrote: > 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 _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
