We _might_ be on the verge of a long-wave upswing of labor-produc- tivity growth. On the other hand, it seems very unlikely that wages will grow at the same rate as labor productivity, given the way in which wages are being competed downward on a world scale. So if capacity utilization can be kept high (i.e., if profits are fully realized ) the profit share of national income -- and the rate of surplus-value -- should rise for quite a long while. But the last time I know of this kind of distributional shift occurred, it contributed to the genesis of the Great Depression. See my article in RESEARCH IN POLITICAL ECONOMY, current volume. sincerely, Jim Devine [EMAIL PROTECTED] or [EMAIL PROTECTED] Econ. Dept., Loyola Marymount Univ., Los Angeles, CA 90045-2699 USA 310/338-2948 (daytime, during workweek); FAX: 310/338-1950
