On Fri, 27 Oct 2000, you wrote: > Capital mobility is not low because technical change is slow. In a > less developed capitalism capital mobility is low and technical > change is slow. An advanced capitalism gives rise to a real tendency > towards the ever more rapid equalization of profit rates due to the > development of capital markets and the freer mobility of labor power > (both are consequences of capitalist development, historical results) > and an ever strenghthening tendency of the search of surplus profit > on the basis of on going technical change due to the endogenization > of science and technology (also a historical result of capitalist > development). An advanced capitalist system is ridden with > contradiction, and is by its nature turbulent. There are variations in the rate of technical progress even among advanced capitalisms. For example the United Kingdom has for the last half century had a growth rate of about 2.5% per annum. It is a developed economy. Other developed economies, Germany, Japan, Italy have had higher growth rates. Developing economies such as South Korea have had even higher growth rates. There is if anything a negative correlation between the level of development of a capitalist economy and its growth rate. The Farjoun Machover theory would predict a positive correlation between the dispersion of profit rates and the rate of growth of productivity. Your theory would predict the inverse, these are at least testable hypotheses unlike most of the arguments you put forward. Why not try and test them out? -- Paul Cockshott, University of Glasgow, Glasgow, Scotland 0141 330 3125 mobile:07946 476966 paul@cockshott.com http://www.dcs.gla.ac.uk/people/personal/wpc/ http://www.dcs.gla.ac.uk/~wpc/reports/index.html
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