[Marxism] OCC

Philip Ferguson philipferguson8 at gmail.com
Sun Dec 9 18:17:34 MST 2012


Some of the text of Ambrose's reply to John Passant re OCC seems to be
missing.  I assume what Ambrose was saying is that each capitalist doesn't
get back as profit what they exploit from their own workers, but a share of
total profit across the economy as a whole, based on what part of the sum
capital of the overall economy they hold .  This is because the one thing
that is equal under capitalism is capital.

It's important to note, however, that there has been a change since Marx
and Lenin were writing.  Globalisation means that there is emerging a
global rate of profit now.  This has been written about by a number of
people, one of whom is Tony Norfield.  See here:
http://economicsofimperialism.blogspot.co.nz/2011/12/imperialism-and-law-of-value.html

That's just a short piece but it has links to a recent PhD by a guy in
Britain (I think) called John Smith, and finished in 2010 which looks at
the impact of imperialism on the law of value.  It also links to an earlier
piece by Tony called 'The China Price':
http://economicsofimperialism.blogspot.co.nz/2011/06/what-china-price-really-means.html

Tony is working on a PhD on British imperialism today, but there's
interesting stuff on a range of subjects to do with imperialism on his site.

He also happens to be a very pleasant bloke.

Phil



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