P.S. Who are these French fellows Dumenil and Levy? They seem to be quite prolific.
As in most collaborative works, in the case of Dumenil and Levy the division of labor is such that Dumenil is very well known Marxist economist (and the usual presenter/debater of their join work --at least, in English--) and Dumenil is the math person.
At 03:41 PM 1/9/2003 -0800, you wrote:
[was: RE: [PEN-L:33695] Re: Re: quesion from Michael Yates]
> Fred B. Moseley wrote:
> >You might want to take a look at my 1992 book *The Falling Rate of Profit
> >in the Postwar US Economy*, and a more recent 1997 RRPE paper "The Rate of
> >Profit and the Future of Capitalism."
Doug writes: > So where's the ROP these days?
according to the SURVEY OF CURRENT BUSINESS (http://www.bea.doc.gov/bea/ARTICLES/2002/09September/0902CorpProfit.pdf), what Fred calls the "conventional rate of profit" for the non-financial corporate sector has fallen pretty drastically in recent years. Its cyclical peak was in 1997, suggesting that the 2001 recession was partly -- or maybe completely? -- caused by the fall. I presume that the ROP fell more drastically in 2002 because of falling rates of capacity utilization (and profit realization) as it did in 2001, though the government hasn't calculated that yet.
------------------------
Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~jdevine <http://bellarmine.lmu.edu/%7Ejdevine>
-- Frequently the only possible answer is a critique of the question and the only solution is to negate the question.
Karl Marx, 1857, Grundrisse, "The Chapter on Money," p.127. E. Ahmet Tonak Professor of Economics Simon's Rock College of Bard 84 Alford Road Great Barrington, MA 01230 Tel: 413 528 7488 Fax: 413 528 7365 www.simons-rock.edu/~eatonak
