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ANOTHER ATTEMPT TO DISCREDIT THE TENDENCY FOR THE RATE OF PROFIT TO FALL (TRPF). This time by the Jacobin Magazine.

Given the long term decline in the rate of profit, now resumed since the Covid uplift, a number of articles have claimed that this decline is a mirage generated by the incorrect treatment of fixed capital. Michael Roberts informed me of this article and I volunteered to help rebut it. Michael Roberts’ reply will be published in the Jacobin journal shortly. This article compliments it by focusing more on defending the tendency for the rate of profit to fall based on what influences prices and profits. Like Jefferies before him,
Ackerman too uses depreciation to discredit the tendency for the rate of profit to fall and like Jefferies he too is guilty of a simple error.

WHEN IT COMES TO DISTINGUISHING GOODS PRODUCING WORKERS FROM SERVICE PRODUCING WORKERS, THE DIFFERENCE IN THE USE VALUES THEY PRODUCE IS IMMATERIAL, literally.

PROFITABILITY in Q2: JAPAN BUCKS THE TREND, CHINA DOES NOT.

UKRAINE THE OLD-EUROPEAN BREADBASKET, GERMANY THE NEW ECONOMIC BASKETCASE.

US SECOND QUARTER RATE OF PROFIT HOLDS UP DESPITE A RISING RATE OF INTEREST AND A FALLING RATE OF SURPLUS VALUE.

In this interesting article, albeit from a right-wing website, the US is in technical recession when using the blended GDP-GDI derived estimate. Also note that in the article this blended metric accurately predicted the 9 previous recessions it was applied to. https://mishtalk.com/economics/philadelphia-fed-gdpplus-measure-sure-looks-like-recession-started-in-2022-q4/

Finally, a number of recent articles are describing the damage being done to US Tech companies such as LAM as China embarks on an accelerated path of import substitution, making it debatable whether these companies can maintain their R&D effort given the reduction in their revenue from the loss of the Chinese market.

BRICS XV SUMMIT, MORE ABOUT PRESSURISING MULTILATERAL INSTITUTIONS THAN OPPOSING THE G7.

THE INTRODUCTION OF ELECTRIC VEHICLES, A CAR-CRASH IN THE MAKING.

Articles in the financial press covering Electric Vehicles have appeared with increasing frequency making their development worthy of discussion and criticism. This article shows how chaotic and dysfunctional their market induced birth has been.

THE DISPARITY BETWEEN THE USA AND CHINA WIDENS BUT THIS IS ONLY TEMPORARY.

NEO-LIBERALISM HAS LED TO A DYSFUNCTIONAL NEOLITHIC STATE.

UKRAINE EMBARKS ON A DIPLOMATIC OFFENSIVE AS ITS MILITARY OFFENSIVE FAILS.