Re: Re: Re: Re: US Consumer Confidence index surges

[Louis Proyect <lnp3@xxxxxxxxx>]

>Louis,
>      Declining rate of profit?  Oh, so you really
>are into all that OPE-L stuff after all, eh?  Do
>you buy the Kliman-McGlone counterattack
>against the Okishio Theorem to save the idea,
>or do you prefer Fred Moseley's more empirical
>approach with its special categorizations of labor?
>Barkley Rosser

Actually, I prefer not to get involved in these sorts of arcane debates
abstracted from the real economy. What I am much more interested in is how
the airline industry, which accounts for some 30 percent of the US export
market, ran into a profit crunch in the late 1960s. This has to do with the
price of fuel, the investment in 747s, etc. So I suppose that I am
something of a Moseley-ite if push comes to shove. In any case, I start out
with the premise that profits did hit a brick wall. When I sit down to
write my analysis, I will probably delve into Ernest Mandel for a
theoretical orientation. He stands head and shoulders over anybody else who
has done economics in the past-WWII period.

Louis Proyect
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