NYC
2018
Event Type: 
Panel
Room: 
1.115
Timeslot: 
Session 6: Sunday, June 3rd: 12:00 - 1:50pm
Event Organizer: 
Panel/Workshop Presentation Documents: 
Reading List: 
Marx, Capital, Vol, 1; Vol. 3; Baran and Sweezy, Monopoly Capital; https://wordpress.com/view/lowerthemortgage.wordpress.com
Description: 
Annual statistical values are found for the four branches of capital identified by Karl Marx. These are fixed asset devaluation, constant capital, variable capital, and surplus-value. The data source is the United States Bureau of Economic Analysis. The industries are agriculture, construction, manufacturing, and mining. The range of years is 1948 through 2014 inclusive. The rate of exploitation is given; the Law of the Tendency of the Rate of Profit to Fall is given official statistical measure. The accumulation of excess capital as defined by Marx is given statistical measure. The dynamics of the mortgage, student debt, auto loan, and credit card bubbles are explained, as is the growth of the military budget and federal debt. Financial crisis comparable to 2008 will occur at any time. The uncontrollable growth of excess capital presages the end of capitalism in the United States.