Come on. We don't need this crap!
Rakesh Bhandari wrote:
[somehow my e-mail program isn't cooperating again. Here's my complete
message.]
[I thought I started writing a reply to this, but somehow there's no file.
I'm sorry if anyone received two versions.]
Paul Phillips writes: The
The recent falls (i.e., of the last 1 1/2 years or so) are due to falling
demand and rates of capacity utilization. That is, there were realization
problems.
Jim, the classical Marxist is not denying that there is falling
demand and realization problems!
As Mattick Sr puts it: Every crisis
I was suggesting that Marx may also have been wrong on the effect
of 'globalization' (internationalization of capitalism) on what I believe
you have advocated in other papers, the 'overaccumulation of
capital' which I suggested with respect, particularly to China but
also to other areas of the
Paul Phillips writes:
What you suggest here is that the profit rate fell despite a *falling
organic composition of capital*. I don't disagree though I would again ask
is that because of an improper measuring of productivity growth as I
suggested in my earlier post? You suggest this seems to
Rakesh Bhandari wrote:
The Fed is powerless to change this; fiscal policy can relieve
realization problems but the resumption of private investments
depends on the restoration of profitability through the devaluation
of constant capital and a rising rate of surplus value.
So, translating
Doug writes:So, translating into demotic English - one of the most
aggressive easing streaks in Fed history will have no effect, and there will
be no recovery anytime soon?
the cuts have already had an effect in the U.S.: they propped up the asset
values of housing and the stock market, which
On Tue, 29 Jan 2002, Doug Henwood wrote:
Rakesh Bhandari wrote:
The Fed is powerless to change this; fiscal policy can relieve
realization problems but the resumption of private investments
depends on the restoration of profitability through the devaluation
of constant capital and a
competition,
has yet to be answered.
Paul
Paul Phillips,
Economics,
University of Manitoba
From: Devine, James [EMAIL PROTECTED]
To: '[EMAIL PROTECTED]' [EMAIL PROTECTED]
Subject:[PEN-L:22028] RE: Re: The rate of profit and recession
Date sent
