The tendency for the rate of profit to fall is perceived as the long run empirical trend for the internal rate of return on Capital invested to produce industrial products to decline - http://en.wikipedia.org/wiki
Marx referred to this as the "most important law of the political economy", hence suggesting its large significance to my question withstanding.
“The rate of profit in the major G7 economies peaked in 1997; it fell sharply to 2001 and then recovered up to 2007”, states Michael Roberts in January 2009.
The slump of 2000-1 had hit the US particularly hard. But by 2005, profits had dramatically recovered almost to 1997 levels, which “was the highest level of profits reached since the 1960s”, explained Roberts (September 2005). This process was confirmed by figures produced by Robert Brenner. “Between 1965 and 1973, US manufacturers sustained a decline in the rate of return on their capital stock of over 40 per cent”, states Brenner.20
Marx referred to this as the "most important law of the political economy", hence suggesting its large significance to my question withstanding.
“The rate of profit in the major G7 economies peaked in 1997; it fell sharply to 2001 and then recovered up to 2007”, states Michael Roberts in January 2009.
The slump of 2000-1 had hit the US particularly hard. But by 2005, profits had dramatically recovered almost to 1997 levels, which “was the highest level of profits reached since the 1960s”, explained Roberts (September 2005). This process was confirmed by figures produced by Robert Brenner. “Between 1965 and 1973, US manufacturers sustained a decline in the rate of return on their capital stock of over 40 per cent”, states Brenner.20