[Marxism] Marx's crisis theory

Shane Mage shmage at pipeline.com
Wed Apr 10 11:14:55 MDT 2013

On Apr 10, 2013, at 12:39 PM, Angelus Novus wrote:
> Ralph Johansen wrote:
>> I certainly don't know how this is all going to settle out, but what
>> convinced me in reading Kliman's The Failure of Capitalist Production
>> was that he seemed there to have established empirically the fall  
>> in the > rate of profit
> The thing is, "the rate of profit" is not a statistical category  
> that any government measures.  You can't just go look up "the rate  
> of profit" in the Statistical Abstract of the United States or the  
> Economic Report of the President.
> So instead, you need a method for calculating "the rate of profit"  
> on the basis of the available statistical material, and as Doug  
> Henwood has pointed out repeatedly, guys like Kliman arrange their  
> calculations in such a way so that the results end up "proving" the  
> doctrinal shibboleth they aim to defend.

In 1963, in my dissertation, I performed a deep analysis on all the  
available data and demonstrated a marked (though scarcely  
uninterrupted) tendency of the US profit rate as defined by Marx  
(aggregate surplus value divided by aggregate private capital stock),  
measured both in hours of socially necessary labor time and likewise  
in current-dollars, to fall over the period 1900-1960. The old saws  
that Heinrich raises as arguments against the Law were taken up and  
disposed of in that book (and will again be disposed of in my reply to  
his MR article).  My dissertation has always been readily available  
but Heinrich, Henwood, Angelus et. al remain in willful ignorance of  
it. Which enables them to go on sneering at Marx's Law on the basis of  
superficial statistics or long-discredited criticisms.

Shane Mage

"All things are an equal exchange for fire and fire for all things,
as goods are for gold and gold for goods."

Herakleitos of Ephesos, fr, 90

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