[lbo-talk] Marx on profits

abu hartal abuhartal at hotmail.com
Mon Nov 26 18:44:23 PST 2007


Seth, I think you are constructing straw men. And no not everything is fine, and no it's not true that nothing new ever happens under the capitalist sun.

The prediction is not of sluggish accumulation or collapse but violent struggle for control of investment outlets for a growing stock of idle money capital and a breakdown of international order; struggle for extra profits through mechanisms of unequal exchange; intensification of struggle within the abode of production due to the rolling back of gains made in the course of so called golden ages of accumulation (say shaving of overtime, firing of unionists, non enforcement of safety standards); and limits on the mixed economy to stabilize the economy at any where near full employment.

And no the profit rate does not fall towards zero. What are you quoting? The question is at what point does the mass of surplus value become insufficient for further accumulation. This is long before the profit rate falls to zero.

Abu Hartal

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