>Don't have my copy here at the office: Do you use the rate-of-profit idea,
>or just evidence of squeezed profit-derived incomes?
Rates of return on nonfinancial capital, computed by dividing NIPA profits by the flow of funds estimates of the capital stock. It moves more or less in tandem with other things, like stock prices and the profit share of GDP. I think it's pretty damned important, since 1) profits are the main source of investment funds, and investment levels are the motor of a capitalist economy, and 2) profitability and its analogues are the main determinant of capitalists' happiness or despair, moods that have a big effect on politics.
Doug