[lbo-talk] revisiting the FROP and the Brenner hypothesis

[Carrol Cox]

RE FROP. I don't think this should be regarded as part of Marx's theory.
It is only mentioned in Volume 3 of Capital, which was the earliest of
the three volumes to be published and he never got around to revising
it. As published, it contains innumerable revisions by Engels, and while
I love Engels, he didn't, at least in his final years when he edited
Vol. 3, wholly understand Marx. The rate of profit may or may not be
falling in any particular< period, but an argument that it is should not
depend on C3 for its theoretical basis.

Also, Vol. 3 as a whole does not deal with any of the fundamental
features of capitalism but rather focuses on the manifestation of those
fundamental eatures in surface form. All in all, C3 should be used with
great caution and with a grain of salt.

Carrol