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.