[OPE-L:7542] [OPE-L:1082] US economy

Asfilho@aol.com
Fri, 27 Aug 1999 05:29:57 EDT

Fred has made some very interesting points in his recent message, and in the
papers he mentions. I would like to ask him a question about his analysis of
the profit rate. Fred argues - please correct me if I'm wrong - that the
long-term fall in the US profit rate is partly due to the rising OCC, and
partly due to the increasing share of unproductive labour.

Fred: can you elaborate on how exactly these two factors have affected the US
profit rate? I am particularly intrigued by the impact of the growth in
unproductive labour: surely it reduces profits in the 'first round', but it
increases demand too when the revenue is spent - in this case how do you
calculate its overall impact? Or am I missing something?

alfredo.