Thread: Ben Bernanke and the declining rate of profit

Results 1 to 2 of 2

  1. #1
    Join Date Sep 2010
    Location United States
    Posts 1,896
    Rep Power 16

    Default Ben Bernanke and the declining rate of profit

    Today on the web site Firedoglake it is reported that Bernanke was asked why interest rates were so low. He is supposed to have responded, "...at the present time the major industrial economies apparently cannot sustain significantly higher real rates of return..."

    One wonders if he was aware of the irony in that statement. Capitalist economies can no longer return a profit. Somewhere Marx is smiling.
  2. #2
    Libertarian-Authoritarianist Supporter
    Forum Moderator
    Global Moderator
    Join Date Mar 2012
    Location Santa Cruz, California
    Posts 1,421
    Organisation
    IWW (Industrial Workers of the World)
    Rep Power 31

    Default

    Today on the web site Firedoglake it is reported that Bernanke was asked why interest rates were so low. He is supposed to have responded, "...at the present time the major industrial economies apparently cannot sustain significantly higher real rates of return..."

    One wonders if he was aware of the irony in that statement. Capitalist economies can no longer return a profit. Somewhere Marx is smiling.
    Ben Bernanke has said things that are in-content Marxist before. You could just as well say that he has said things that are "true" before.
    "It is necessary for Communists to enter into contradiction with the consciousness of the masses. . . The problem with these Transitional programs and transitional demands, which don't enter into any contradiction with the consciousness of the masses, or try to trick the masses into entering into the class struggle, create soviets - [is that] it winds up as common-or-garden reformism or economism." - Mike Macnair, on the necessity of the Minimum and Maximum communist party Program.

    "You're lucky. You have a faith. Even if it's only Karl Marx" - Richard Burton

Similar Threads

  1. Replies: 9
    Last Post: 27th November 2012, 00:08
  2. 'Rate of Profit' vs. 'Rate of Profit of the Production Process(!)'
    By Workers-Control-Over-Prod in forum Theory
    Replies: 2
    Last Post: 6th October 2012, 00:48
  3. What is the 'Rate of Profit'?
    By Workers-Control-Over-Prod in forum Theory
    Replies: 2
    Last Post: 5th October 2012, 21:29
  4. Rate Of profit
    By JC1 in forum News & Ongoing Struggles
    Replies: 0
    Last Post: 14th January 2006, 23:07
  5. The rate of profit
    By ComradeRed in forum Theory
    Replies: 3
    Last Post: 23rd January 2005, 20:52

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Tags for this Thread