Shane Mage wrote: > But, of course, Marx defined the Law of the falling tendency of the rate of > profit as "requiring, for its defeat, periodic crises." Nothing > "irreversible" about that--on the contrary, the function of crises is > precisely to reverse it! The Law is a *long-term* tendency, an "economic law > of motion of modern society." It is capitalism's "peau de chagrin." [the > magic skin?]
quoting Marx does no good if his argument for the theory isn't convincing. BTW, I do think that there is a good argument for a theory of over-accumulation as a normal tendency of capitalism (when not blocked by depression conditions or similar), with a rising "value composition of capital" being one possible expression of that tendency. -- Jim Devine / "Reality is that which, when you stop believing in it, doesn't go away." -- Philip K. Dick _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
