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

[Philip Pilkington]

>
> It's fun speculating about the contents of the article but it's been a
> while since I read it and you might be better off just reading the
> original. :) Let me know if you need me to send you the pdf. But IIRC
> the argument revolved around exactly the opposite, that fixed capital
> in the steel industry was more fluid and less fixed than we might
> think.

I'd love to read the article, please send it to me. But I still remain a
little sceptical that the steel industry stayed perfectly profitable while
subjecting themselves to the forces of global competition. I mean I call to
mind here the farming industry. An industry which produces "raw goods"
perfectly well but needs government subsidies to remain profitable within
the West. Competition in the raw goods section should, by all accounts,
erode profitability... if, that is, competition is allowed free reign and if
competition actually functions properly...