[lbo-talk] Krugman

Doug Henwood dhenwood at panix.com
Mon Dec 24 08:59:17 PST 2007


On Dec 23, 2007, at 5:01 PM, Michael Perelman wrote:


> I have nothing against clarity, but I think you will find a large
> number of papers
> spinning their wheels in an attempt to define unproductive labor.
> Even so, Fred
> Moseley has used unproductive labor data to make an interesting
> explanation of
> downward pressures on profit rates.

It's also a useful way of adjusting the profit rate downwards when bourgeois data tell you otherwise. The rate of profit has been falling so long it's a miracle that it's not negative.

Doug



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