Personally, I wouldn't jump to realist conclusions. It's not at all clear to
me that Europe and Japan want to face the crises that would follow a
precipitous fall in the dollar.
Peter
Chris Burford wrote:
At 28/01/02 20:28 -0800, Peter Dorman wrote:
In the narrow sense, the strength of 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
The Times of India
SUNDAY, JANUARY 27, 2002
Qatar is the richest Arab state
PTI SUNDAY, JANUARY 27, 2002
DUBAI: Oil and gas rich Qatar has overtaken the United Arab Emirates to
become the richest nation in the Arab world, a report on Sunday said.
Qatar's per capita income was estimated at
If anyone needs an example of the mis-use of cost-benefits analysis...Of
course, if something this sloppy and shoddy had been done to justify (for
example) increased environmental regulation, it would have been laughed at
and dismissed by NBER economist types.
This reminds me for three unrelated
Good analysis
by Mohammad Maljoo
28 January 2002 20:26 UTC
-clip-
As one senior Iranian statesman wryly remarked at a
recent private
gathering: The Americans should realize that while
indeed they are the
strongest global power, that does not necessarily
make them the strongest
Rakesh:
However, note that the crisis would be overcome not at all by raising
the consumption of the masses!
CB: Whose crisis ? The crisis of the masses will not be overcome until their
consumption is raised.
Jim Devine:
The fixed capital/output ratio continued to fall all the way until 2000
(following its trend from the early 1980s), indicating that labor
productivity growth exceeded the rate of growth of fixed capital per worker.
The classical Marxist theory doesn't seem to work, at least not for
The rate of profit and recession
by phillp2
29 January 2002 02:20 UTC
Jim,
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
G'day Charles,
As one senior Iranian statesman wryly remarked at a
recent private
gathering: The Americans should realize that while
indeed they are the
strongest global power, that does not necessarily
make them the strongest
regional power in every part of the world and at
I wrote:The fixed capital/output ratio continued to fall all the way until
2000 (following its trend from the early 1980s), indicating that labor
productivity growth exceeded the rate of growth of fixed capital per
worker. The classical Marxist theory doesn't seem to work, at least not
for this
Both saviour and victim
Black Hawk Down creates a new and dangerous myth of American nationhood
George Monbiot
Tuesday January 29, 2002
The Guardian [UK]
The more powerful a nation becomes, the more it asserts its victimhood. In
contemporary British eyes, the greatest atrocities of the 18th
Why undermine a perfectly informative discussion with such personal sniping?
Please stop.
Rakesh Bhandari wrote:
Paul wrote: So I would appreciate a little less
patronizing by Rakesh
really the gall of this is impressive. Just the other day I an
ignoramus whose papers you would flunk.
Capitalism Is In Trouble:
A Deliberate Scandal
Washington Post Editorial
January 27, 2002
SUMMONING UP contemptuous rage at the Enron hearings last Thursday, Sen.
Richard Durbin (D-Ill.) declared, When the corporate insiders at Enron
realized the ship was sinking, they grabbed the lifeboats
Jan. 29
Hello Rob and Charles,
Re: Good analysis
by bantam
29 January 2002
G'day Charles,
As one senior Iranian statesman wryly remarked at a
recent private
gathering: The Americans should realize that while
indeed they are the
strongest global power, that does not necessarily
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
Why undermine a perfectly informative discussion with such personal sniping?
Please stop.
We seem agreed that capitalists did not undertake the level of
investment needed for surplus value to have been realized.
The question is why.
There are several answers on the table:
(1)
Uh-huh, so what about ... the people who construct the story the nation
chooses to
believe.?
If one reads Mark Bowen's book plus seeing the movie and CNN and the History
channel's versions, it would be politically (in)correct to suggest that the
Somalis ( like the Afghans and the Palestinians )
BLS DAILY REPORT: Tuesday, January 29, 2002
RELEASED TODAY: In December 2001, there was 2,425 mass layoffs actions by
employers as measured by new filings for unemployment insurance benefits
during the month, according to data from the U.S. Department of Labor's
Bureau of Labor Statistics.
CB: Yea, realization problems. In this passage , Mattick is with
us, isn't he ? Even if he discusses realization of surplus value by
accumulation, his conclusion is dependent upon insufficient
demand by consumers of commodities from Department I, insufficient
mass demand or
Jim,
The question we were discussing, I thought, was what explains the
drop in profits after 1997 (despite rapidly rising labour productivity)
and which subsequently resulted in a fall in investment initiating the
recession. Your data, at least as I read it, questioned whether the
fall in
So Bush is attempting to build confidence by some fiscal stimulus
with future regressive tax savings by cutting into any kind of social
welfare. Social darwinist military Keynesianism.
Rakesh
Actually I am not quite
right here. Bush's attempt to restore benefits to legal non citizen
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
Jim,
The question we were discussing, I thought, was what explains the
drop in profits after 1997 (despite rapidly rising labour productivity)
and which subsequently resulted in a fall in investment initiating the
recession. Your data, at least as I read it, questioned whether the
fall in
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
Top Financial News
01/29 15:27
U.S. Stocks Fall; Tyco, Williams Drop on Accounting Concerns
By Danielle Sessa
New York, Jan. 29 (Bloomberg) -- U.S. stocks fell, driving the
Standard Poor's to its biggest decline since September, as
investors unloaded shares of Tyco International Ltd. and
Justice or revenge?
As a hostage in Beirut, Terry Waite was chained to a
wall, beaten and denied all human rights. Here he
gives his thoughts on America's treatment of the
al-Qaida detainees in Guantanamo Bay
Terry Waite
Wednesday January 23, 2002
The Guardian
I can recognise the conditions
Prominent radical cleric, Maulana Samiul Haq, head of the 35-party
pro-Taliban Pakistan-Afghanistan Defence Council, told the crowd Muslims
would continue to wage jihad against non-Muslims in places such as
Chechnya, Palestine and Afghanistan.
Afghanistan is our backbone. Why can't we fight
Yahoo market overview:
"Fears of accounting irregularities ruled the day today."
Tom Walker
On Mon, 28 Jan 2002, Doug Henwood wrote:
Devine, James wrote:
the data that Fred Moseley and I are discussing is from the BEA and is
available at:
http://www.bea.doc.gov/bea/ARTICLES/2001/09september/0901ror.pdf or
http://www.bea.doc.gov/bea/ARTICLES/2001/09september/ror.xls.
These
Wherever the religion-oriented state obtains political power in a Muslim
country , the political Islam grows and the social Islam declines. For
example, compare Iran with Eygpt: in Iran the state is religious, so the
social Islam is failing fast and the political Islam is increasingly
On Mon, 28 Jan 2002, Charles Brown wrote:
the profit rate recession
by Fred B. Moseley
28 January 2002 00:20 UTC
My conclusion from these estimates, as I have said many times before, is
that the fundamental problem in the US economy of insufficient
profitability has not yet been
Adam:The Assembleas Populares are spreading and becoming a base for dual
power. These assemblies, 46 in number today, are not yet in the
hundreds. These assemblies are only recently beginning to represent
factories and other workplaces. Inter-assembly coordination is
beginning to occur. But
Are you disaggregating the extremely high profits that derive from corporate
interest earnings or financial-asset capital gains, as US firms hollowed out
from the early 1980s and took higher earnings shares from their
financial/treasury operations? They would have paralleled the
interest-payments
I would reiterate that the denominator in the profit rate calculations is
a very questionable figure.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
[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 question we were discussing, I thought, was what
explains the drop in profits after 1997 (despite rapidly rising labour
productivity) and which
Here is a reminder of Grey Davis's election strategy, following today's
execution.
Lethal Elections: Gubernatorial Politics and the Timing of
Executions
BY: JEFFREY D. KUBIK
Syracuse University
Department of Economics
JOHN MORAN
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
Billions still hidden in Enron pyramid
David Teather in New York
Wednesday January 30, 2002
The Guardian
Enron, the failed energy firm, was yesterday likened to a
pyramid-selling scam and was said to be possibly hiding billions of
dollars of debts that have yet to come to light.
Robert
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