>Second, due to efficiencies in capital
>goods industries, the value (cost) of that plant and equipment doesn't rise
>nearly as fast as its mass, so that counteracts some of the pressure for profit
>rates to fall.
>From this, are we to conclude -- everything else
being equal (which it never is) -- that one countervailing
tendency to the FROP is productivity in capital goods
production rising more quickly than productivity in consumer
goods production ? I recall Jim O'Connor telling me something
like this once, and it seems to have parallels with various
"long-wave" theories of capitalism's resilience, which
focus on "revolutions in the production of the means of
production" (from artisan-made steam engines, to machine-made
steamships/locomotives/steel, to continuous processing-based
petrochemicals, etc.) ...
John Gulick