The integral part of Marx's theory of surplus value, the law of the downward trend in the rate of profit discovered by K. Marx, highlights not only resources, but also "thorns" and the boundaries of capitalist development. That is why bourgeois researchers do not give up trying to debunk this law. To this end, they appeal to the obvious acceleration of scientific and technological progress, the intensification of reproduction, as well as the limitations of the mathematical apparatus of Capital. They also refer to the reforms carried out in socialist countries, which, as a rule, are portrayed in the press as an unambiguous "replacement of Marx by the market," Marxism by bourgeois doctrines. What are the arguments of K. Marx's critics and how weighty are they?
The views of bourgeois economists on the downward trend in the rate of profit are dominated by two alternative (but equally negative) approaches, the watershed between which does not coincide with the separation of economic thought trends. Thus, among the supporters of the first point of view, who believe that a decrease in the rate of profit (as interpreted by K. Marx) has never been observed at all, are P. Samuelson, one of the founders of the neoclassical synthesis, the econometricians E. Wolf and D. Jorgenson from the USA, and N. Kaldor, a radical from British Cambridge.
"The rate of (entrepreneurial) profit before taxes," states M. Feldstein, a neoconservative master close to the administration, vice president of the American Economic Association and a Harvard professor, "changes cyclically, and also varies from year to year, but does not experience any general trend." A popular political economist, Professor J. P. Blavatsky, agrees with him in many ways. Faywell. "Profits," he believes, "are not really stationary, but fluctuating. Their variability is the predominant phenomenon that needs to be explained."
This law is being challenged with particular zeal by the "architects" of Reagan-bushenomics, who categorically exclude a conflict between economic growth and profit growth, that is, the unavoidability of an "excess of capital."
The adherents of the second position are the venerable futurist D. Bell, prominent ideologists of neo-institutionalism J. Galbraith and R. Heilbroner, as well as the recently deceased famous representative of left Keynesianism, the English economist J. Robinson — they put forward a version about the loss of force of previously existing laws. In principle, it is shared by such prominent figures in "Marx studies" as M. Morishima and P. Sweezy. Their West German colleagues J. Kromphardt and W. Vogt join them. The
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