> > since 1997 or so, it's hurt US profitability, especially in exporting and
>>import-competing sectors, though things are changing.
>
>Then why does the US capitalism allow this to happen, if it's hurting US
>profitability for 6 years?
Not six years. Profits declined from 1997 to 2001, but there has been a pretty vigorous recovery since. Geek that I am, I'm eagerly looking forward to the release of the third quarter flow of funds stats in early January, which will incorporate the NIPA revisions, to find out what's happened to corporate profitabiility (using, of course, vulgar techniques that fail the Marxist Purity Test).
Doug