4 ms·
Extrapolating a trend (even a 700 year long one) into the indefinite future is a fraught exercise, as is attempting to read it as benign just because it has per
by AndrewBissell 6y ago
Extrapolating a trend (even a 700 year long one) into the indefinite future is a fraught exercise, as is attempting to read it as benign just because it has perhaps been so in the past.
Remind me, who was it that wrote about the tendency of the rate of the profit to fall over the long term, until the point it provokes a crisis?
- hardlianotion 6y agoYes, you’d greatly prefer to understand why.
- Context_free 6y agoYou can find the answer here https://en.wikipedia.org/wiki/Tendency_of_the_rate_of_profit_to_fall https://en.wikipedia.org/wiki/Tendency_of_the_rate_of_profit... This is the first thing that came to my mind as well...the current data on falling rentier rates, crises of political economy etc. makes sense in light of that old model.
- casualrandomcom 6y agoThat one actually predicted the First World War. I am actually with you on the first sentence but your counterexample is weak at best