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The Tendency for the Rate of Profit to Fall, Crisis and Reformism
(nicolasdvillarreal.substack.com)
this post was submitted on 17 Sep 2023
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marxism
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Am i exceedingly dumb or is jacobin measuring profit rate as (s/cc)? Good substack tho
It seems so, or at least that's what Nicolas is saying, and is also calculating it as the ratio of surplus to constant capital to meet the jacobin piece on its terms while showing that the author makes a terrible error in switching methodologies halfway through a graph and then pretending that it shows anything valuable (and instead actually shows a greater fall in the rate of profit if the entire date range is calculated using that methodology).