[Marxism] Marx's crisis theory

Louis Proyect lnp3 at panix.com
Wed Apr 10 11:18:55 MDT 2013

On 4/10/13 1:14 PM, Shane Mage wrote:
> 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.


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