Charles Brown wrote 29 May 2007 CB; . . . Has it been mainly in the U.S. that crises have been smoothed over, and long term rate of profit raised ?
I think most of the advanced countries have had a significant recovery of the rate of profit..
. . . Does the almost complete recovery of the long-run rate of profit without a serious depression and devaluation of capital depend in part on the gouging of the Soviet Union and Eastern European economies when they were opened up for looting ? And the opening up of the "Non-Aligned" countries similarly to be looted in neo-liberal imperialism ?
Yes, especially because it opens up new areas of low wages.
I know it's a big debate, but Marx says both that the law of the tendency of the rate of profit to fall and inadequate demand from the masses of consumers/wage-laborers explain/cause crises ? With wages falling over the period you mention, how were profits _realized_ ? Does the current financial regime "print" the money , effectively , to pay and realize the profits ?
Consumption has been maintained by unprecedented levels of debt. An important question now is whether that can be maintained. Comradely, Fred ---------------------------------------------------------------- This message was sent using IMP, the Internet Messaging Program.
