Re: [OPE-L] Robert Brenner, "That hissing? It's the sound of bubblenomics deflating"

From: glevy@PRATT.EDU
Date: Sat Sep 29 2007 - 06:54:49 EDT

> (2)"Focused on restoring profit rates, corporations
> unleashed a brutal offensive against workers. They
> increased productivity growth, not so much by
> investing in equipment as by cutting back on jobs and
> compelling employees to take up the slack. They held
> down wages as they squeezed more output per person,
> allowing them to appropriate an entirely unprecedented
> share of the increase that took place in net
> non-financial GDP." <snip>
> If what is described in
> (2) is true, then the rate of profits must rise.

Hi again Ajit:

Not necessarily: one could claim that if (2) were true then
the rate of profit could still fall but not as sharply.

In solidarity, Jerry

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