The Persistent Fall in Profitability Underlying the Current Crisis:
New Temporalist Evidence
A study of the rates of profit of U.S. corporations, 1929-2007, with emphasis on the period since the early 1980s.
NOTE, OCTOBER 14, 2009: Here, FINALLY, is the first complete draft of the paper.
NOTE, OCTOBER 16, 2009: Here is the accompanying spreadsheet file. Please read the information in the "citation" sheet before using.
NOTE, OCTOBER 18, 2009: Here is the 2nd draft.
NOTE, MAY 10, 2010: The third, revised version of "Persistent Fall" was published last month in booklet form by Marxist-Humanist Initiative. It can be obtained here. Many errors have been corrected. Part IX, on the effect of moral depreciation, is expanded. The booklet also includes an Appendix by Raya Dunayevskaya, "Capitalist Production/Alienated Labor," which criticizes the notion (new when she wrote the piece in the mid-1980s) that the economy was becoming "uncoupled" from production, and a Preface by MHI.
Comments continue to be welcome!