Re: Capital Shortage??? (was Re: Current implications for South)

[Yoshie Furuhashi <furuhashi.1@xxxxxxx>]

> At 01:51 PM 6/28/01 -0400, you wrote:
> > From Pat Bond to Mark Jones:
> >
> > >  > Finally, the global problem capitalism faces is not
> > > over-accumulation, but a
> > > >  capital shortage, desperate and bordering on famine.
> > >
> > > Ok, this one I will look forward to with interest, comarde.
> >
> > Aside from Mark, who else is today worrying about capital shortage?
> > (The business media used to worry about it a lot during the 70s,
> > which was revealed to be an absurd scare story -- capitalist
> > ideologues believing in their own propaganda for pro-capital
> > legislations like low taxes, balanced budgets, etc. -- by the
> > editors of _Monthly Review_; see "Capital Shortage -- Fact and
> > Fancy_ by the editors of _Monthly Review_ 27.11 [April 1976].)
> > Well, there's Rakesh Bhandari:
>
> it matters what one means by a "capital shortage." A falling rate of
> profit -- as from the 1960s into the 1970s causes a "capital
> shortage" in that high profit rates correspond to relatively high
> sources of capital funds (since the bourgeoisie is self-financing)
> and high incentives to invest those funds in fixed capital.
>
> Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine

Profit rates have been restored by neoliberalism -- hence the boom
during the 90s whose tail end we may be experiencing now.  Is that,
though, what Mark means by "capital shortage"?

Yoshie