Re: Figures on the declining rate of profit

From: paul cockshott (clyder@GN.APC.ORG)
Date: Thu Dec 18 2003 - 07:50:09 EST

For this purpose I am not so concerned with the
comparability of the figures, I am more concerned with
whether there are broad trends in the organic composition.

The figures that I am using for the UK are those from the paper
that Allin and I had in Capital and Class 55, where we
set out our methodology in some detail. I would not
expect other peoples methodologies to be identical.

-----Original Message-----
From: OPE-L [mailto:OPE-L@SUS.CSUCHICO.EDU] On Behalf Of Simon Mohun
Sent: 18 December 2003 10:52
Subject: Re: Figures on the declining rate of profit

Hi Paul C,

How are you defining the OCC? Are you using productive capital and
productive labour? Or all capital and all labour? Is capital fixed capital
only or are you including inventories and work in progress? What about the
constant capital elements of circulating capital? And finally (!),
presumably you are using constant price series (otherwise you are measuring
the VCC), but what are your deflators? Any figures you get are going to be
sensitive to the answers presumed to these questions, and are therefore
highly likely to be noncomparable.

Seasonal greetings to all,


At 10:15 18/12/03 +0000, you wrote:
>I am writing something where I want to cite evidence of a declining rate
>of profit being
>empirically associated with a rising organic composition of capital. I
>have figures for
>the UK, does anyone have figures they could email me for other countries.
>I am looking for tabular data that I can format into graphs myself.
>I will of course acknowledge the source of all data cited.
>Paul Cockshott
>Dept Computing Science
>University of Glasgow
>(44) 141 330 3125

Dr. Simon Mohun
Centre for Business Management
Queen Mary, University of London
Mile End Road
London E1 4NS

Tel. +44-(0)20-7882-5089 (direct); +44-(0)20-7882-3167 (Dept. Office)
Fax: +44-(0)20-7882-3615

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