It seems so. An additional tidbit is that stagflation is generally considered to be a good indicator that the rate of profit may actually be falling. Beyond th

It seems so. An additional tidbit is that stagflation is generally considered to be a good indicator that the rate of profit may actually be falling. Beyond that as far as I remember when reading the literature, there have been no empirical studies that found that the rate of profit was not falling, only inconclusive results or positive results. I personally don't think it's settled yet, though. I think empirical evidence is not quite there for now.