Tag Archives | Michael Dawson

Is There an Allocation Problem?: A Comment on Murray Smith’s Analysis of the Falling Profit Rate

In the Fall 1993 issue of Science & Society the editors observed that Murray Smith’s articles on the falling rate of profit, which formed the opening contribution to that issue, constituted an important new study that “should be compared with the work of [Thomas] Weisskopf, [Edward] Wolff and [Fred] Moseley’- all of whom have carried […]

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The Tendency of the Surplus to Rise, 1963–1988

In the increasingly universal monopoly-capitalist economy and culture of the late twentieth century, people no longer need what they want or want what they need. Wants are artificially manufactured while the most desperate needs of innumerable individuals remain unfulfilled. Although labor productivity has steadily risen, the overall efficiency and rationality of society has in many […]

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