[OPE-L:1583] The General Rate of Profit

glevy@acnet.pratt.edu (glevy@acnet.pratt.edu)
Wed, 27 Mar 1996 06:26:50 -0800

[ show plain text ]

> From: Re: Temporality and Simultaneity
> Marx's general rate of profit, according to the last chapters of Capital,
> vol III, seems to refer to the minimum required rate of profit for a new
> project. If the profit rate is below the general rate, then the project
> is to be abandoned. So, it might be different from the average rate of
> profit.
> Chai-on

I think you are looking in the wrong part of V3 if you want to understand
the relation of the general r to the LTGRPD.

One has to look at the chapters *before* Ch. 13 to understand the meaning
of the general r at the level of analysis in which the LTGRPD is
presented. The general r, by my reading, is the same as the average r --
at that level of analysis. Any distinctions that are made later can not
be retroactively appled to a prior level of analysis.

There are other variables as well that relate to individual profit rates
that aren't discussed until after the "law" (i.e. the LTGRPD) is
presented. For instance, the turnover time of constant fixed capital is
not discussed in Ch. 9, Vol. 3.

In OPE-L Solidarity,