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by avidphantasm
1348 days ago
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I would argue that Marx’s process-based description of the dynamics of Capitalism have proven to be much more valid (e.g., coercive law of competition, declining rate of profit) than those of neoliberal economics. Are either a science? No. They are schools of thought within political economy. Are they useful? Well, I’ve just stated my opinion above. YMMV. |
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Declining rate of profit seems to be another one of Marx's ghosts if you ask me, we sure aint seeing it under covid with these record profits.