[OPE-L:3802] Re: Organic composition of capital negatively

Gil Skillma (gskillman@wesleyan.edu)
Mon, 9 Dec 1996 12:20:47 -0800 (PST)

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Paul, the scatter plot you mention below doesn't show up on my screen. How,
if at all, do I access it, and if not possible by this medium, could you
send it to me by some other, such as fax or e-mail? [Or perhaps refer me to
an article from which the data are culled?] I'd appreciate it. Thanks, Gil

>I appologise for sending more material using
>Microsoft Exchange. It may look odd to some of
>you, but in this case it contains information
>that is very relevant to my argument.
>Ramos has raised the question of whether organic
>composition is negatively correlated with the rate
>of profit. There was some discussion of this
>about a year ago. Now, thanks to the miracle
>of microsoft Exchange I can send you mail messages
>demonstrating this.
>The following scatter plot shows the distribution
>of US profit rates for about 70 industries drawn
>from the 1987 i/o and capital stock tables.
>The rate of profit is plotted against the
>organic composition c/v. Two possible trend lines are
>shown, the green one shows the predicted rate of profit
>if one multiplies s' (rate of surplus value ) by v/c,
>the blue one, a simple horizontal line, shows the expected
>trend for rates of profit if there was an equalisation
>of profit rates around the mean.
>Actual profit rates are clearly clustered around
>the green line. Thus actual profit rates correspond
>to those one would expect from volume 1 of capital
>not from volume 3 of capital.