In my view one of the most crucial articles Josn Robinsom wrote (cannot remember which of her COLLECTED ECONOMIC PAPERS VOLUME IT WAS IN -- but it was published before 1965) --- was one in which she made clear that the RATE OF EXPLOITATION was prior to and more significant than the RATE OF PROFIT even though the "rate of profit" was the "number" that determinded whether capitalists would continue to invest or interrupt the flow of investment.
My response to that as a student with very little knowledge of Marx himself was that therefore one didn't have to get hung up on the transformation problem, etc. and everything else related to the LTV, but merely identify the rate of exploitation as the key to the class struggle at the point of production and make the changes in that rate the crucial element in understanding capitalist dynamics --- AFTER THAT, one could grab all the Keynesian additions to "macro-economics" -- It stood me in good stead as a teacher and as a writer --- even though I never mastered the intriciacies of any of the theories and especially not the math ... -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#40784): https://groups.io/g/marxmail/message/40784 Mute This Topic: https://groups.io/mt/117927517/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
