From: Paul Cockshott (clyder@GN.APC.ORG)
Date: Thu May 20 2004 - 16:15:52 EDT
On Thursday 20 May 2004 13:56, Allin Cottrell wrote: > Yes. Another perspective on the course of profits is the Kaleckian > identity: > > profit = investment + budget deficit + net exports - workers' saving > > >From this point of view, comparing 2003:4 with the previous profit > > peak in 1997:3, we have (all in current billions of dollars): > > 1997:3 2003:4 change > fixed private investment 1347.0 1756.0 +409.0 > federal deficit 35.0 417.9 +382.9 > > These both boost profit, as does a fall in personal saving of 63.9. > Over the same period the U.S. current account balance has fallen by > 97.6, a relatively slight offset to the big boost from private > investment and federal deficit spending. > I see you have already answered my first question.
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