On 12/11/06, Doug Henwood quoted Marx:
In the first sequence, an increase in price would raise the rent and
decrease the rate of profit. Such a decrease might be entirely or partially checked by counteracting circumstances. This point will have to be treated later in more detail. It should not be forgotten that the general rate of profit is not determined uniformly in all spheres of production by the surplus-value. It is not the agricultural profit which determines industrial profit, but vice versa. But of this more anon. <<
that's a completely different idea from what Louis was pushing. It says that the overall industrial profit rate is determined by class struggle and the like in society as a whole. The agricultural profit rate simply reflects (in equilibrium) though the landlords (and ladies) also receive land-rent. -- Jim Devine / "Because things are the way they are, things will not stay the way they are." -- Bertolt Brecht This email was cleaned by emailStripper, available for free from http://www.papercut.biz/emailStripper.htm
