I also don't get your profit theory. If you subscribe to LTV, then how could wage repression account for a lot of the profit rate
incline since as mechanization proceeds the relative number of workers must decline and as Marx says no matter how exploited two workers are they can't produce as much surplus value as 24. Aren't you suggesting a theory of profits at odds with the theory of labor value? Are you a closet Sraffian?
^^^^ CB; It doesn't contradict the LTV to claim the profit rate inclines due to an increase in the degree of exploitation, which increases with a wage decrease.
Part III: The Production of Absolute Surplus-Value
CHAPTER NINE: THE RATE OF SURPLUS-VALUE
Contents Section 1 - The Degree of Exploitation of Labour-Power