[p2p-research] The Persistent Fall in Profitability and Debt Financing

[Michel Bauwens]

Does anyone know how to find figures about this steady decline in
profitability?

Michel

---------- Forwarded message ----------
From: seth weiss <weiss_seth at hotmail.com>
Date: Thu, Jan 7, 2010 at 10:55 AM
Subject: 1/15: Roots of the Economic Crisis @ Historical Materialism 2010
To: newspacegroup newspacegroup <newspacegroup at lists.mutualaid.org>


 New SPACE friends, Andrew Kliman will be talking on the “Roots of the
Economic Crisis: The Persistent Fall in Profitability and Debt Financing” at
the upcoming Historical Materialism conference here in the NYC. Many of you
know Andrew from his classes on Marx’s Capital at the New SPACE. Please find
details below. Best, Seth




Marxist-Humanist Initiative recommends the Historical Materialism-NYC
conference, at which you can hear



ANDREW KLIMAN



on “ROOTS OF THE ECONOMIC CRISIS:  THE PERSISTENT FALL

      IN PROFITABILITY AND DEBT FINANCING”



on a panel with Fred Moseley and Simon Mohen entitled “Origins of the
Current Crisis”



Friday, January 15, 2010 at 10:15 a.m.



CUNY Graduate Center, 365 Fifth Avenue (bet. 34-35th St.), Room 6417



For information about the conference, which takes place Thurs. Jan. 14
through Sat. Jan. 16, go to http://www.hm2010nyc.org/



*             *           *


Kliman will present a challenge to common left views of the crisis:



Various leftists are trying to have working people march behind the banner
of some statist version of capitalism, as a supposed solution to the
economic crisis and/or a way of preventing a recurrence of crisis.
Frequently the turn to statism is justified on the basis of the claim that
the current crisis is a purely financial one, caused by free financial
markets, unrelated to and distinct from profitability problems within
capitalist production.  This paper will show that the claim is incorrect.
Properly measured and assessed, there has been a persistent fall in US
corporations' rate of profit and declining GDP growth, the effects of which
have been continually papered over with ever-growing mountains of debt. But
the excessive indebtedness leads to bubbles and the bursting of the bubbles.
The latest crisis is the most severe yet.  A further rise in debt is not a
genuine solution to the crisis; only a new human society is. In the
meantime, working people should fight for concessions without subsuming
their self-activity under the agenda of some section of the ruling class.



*         *        *


Be sure to visit MHI’s book table at the Historical Materialism Conference.



See analyses of the crisis and explorations of Marx’s alternative to
capitalism on the MHI website: www.marxist-humanist-initiative.org


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