marx failed to consider that it isn't declining fast enough to satisfy online leftists
Incoming picture of some marx documeent .... "The Declining Rate of Profit will occour over a long period of Time , The calls of Salon-Leftist that see it in the recent Bankcrupty of "Chesterfield Steel Inc." or the Collapse of the Kautschuk Market , are to be dissmissed..
Where does this data come from? Like, how do you actually measure the rate of profit of a whole country?
Michael Roberts has been doing this for the whole world, shows the same trend.
What lead to an increase in rate of profit in the 90s? Fall of the eastern block?
i saw a paul cockshott video the other day suggesting part of it is the bourgeoisie increasingly spending profits on luxuries rather than reinvesting in productive capital (which itself is possibly even because the rate of profit on productive capital is/was so low)
he didnt really explain this in any detail or how it could be such a substantial factor to move the needle so much on the entire system, i would be interested to hear more on this
i was searching rate of profit graphs the other day, and got a whole bunch of fairly starkly different graphs for what is supposedly the same data
im sure its a difficult thing to actually quantify, but are there substantive differences of opinion in how to measure it? this and variations of it is the standard leftist one i see, but to what extent is this generally-accepted vs just copium?
The fact that 2008 was only an inflection point and not a maximum is ridiculous.
