US GDP and The Rate of Profit

A lot of heat and column inches has been generated, particularly in recent years over the question of the rate of profit. I have pointed out in the past that a lot of the debate has been rather pointless, because the data that was being used for the various claims was itself…

The Indian Left is only good to wipe its own a**

The Indian Left is a club of Brahmin Savarna educated elite who after studying some western theories of [labor] exploitation continue to emulate the parlance into Indian setting.

Marx and Machines — Part 1 of 7

Marx has a dichotomous attitude to machines. It can be seen in his attitude to Luddism.

“They direct their attacks not against the bourgeois conditions of production, but against the instruments of production themselves; they destroy imported wares…

Marx and Machines — Part 5 of 7

In Theories of Surplus Value, Part I, Marx sets out the following argument in relation to the way a machine can replace labour, and cause unemployment.
 
 “If a labourer without machinery needs 10 hours to produce his own means of subsistence, and if with machinery he only…

Marx and Machines — Part 7 of 7

Paul Mason in his book, argues that capital has invested in nail bars rather than industries based on gene sequencing technology. I have some sympathy with that argument. I have made the point many times that capital in the US, which is by far the world’s leading…

Marx and Machines — Part 6 of 7

To return to the point made in the beginning, in relation to Paul Mason’s new book, it seems to me to make the same mistake that Marx himself made, but for which he could be forgiven considering the time he was writing. Marx, in Theories of Surplus Value I, in discussing…