[PEN-L:10981] Re: K/Y ratios

[Doug Henwood <dhenwood@xxxxxxxxx>]

Fikret Ceyhun wrote:

>One other possible explanation for low capital output ratio in the United
>States is that K/Ys are correlated with Marx' concept of the organic
>composition of capital. When  organic composition of capital is low then
>the rate of profit is high, assuming that the rate of surplus value is the
>same (or not lower). Since statistically profit rates are higher in the
>U.S. then OCC must be low.

Well, that's what I was thinking, though obviously I was using bourgeois
statistics, doubtless to the consternation of Jerry Levy. But we're talking
about the country that's been the dominant capitalist power for almost a
century. Isn't the OCC supposed to rise over time?


Doug

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Doug Henwood
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