Re: [OPE-L] the global labor force and capital accumulation

From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Fri Jan 20 2006 - 16:46:35 EST

>>Why will there be surplus capital? Because there will be a shortage of
>>available labour power or because as a result of a shortage of
>>surplus labor in the production process surplus value will become
>>to accumulation demand?
>Because once demographic transition has occured, a capital
>stock growing at the rate of profit * A , where A is the
>accumulation ratio out of profits, will be growing faster than
>the rate of growth of the population.

What are your projections for the rate of profit? It is possible
of course that the accumulation ratio of profits will rise while
the rate of profit rate falls as a result of upward pressure on the
OCC. Marx thought this would be the typical pattern for a robust

For our projections check out the graphs here
Broadly they are in line with what you say above

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