Debunking The Falling Rate of Profit: Tovarishch Endymion Debunked

Debunking the falling rate of profit is straightforward. Having done a bit of research I immediately grasped the deeply flawed argument. Much like I've mentioned before about economies of scale and cutting costs actually benefits businesses resulting in greater profits, the theory of the falling rate of profit is based on the deeply flawed view that when one company cuts costs and reduces prices, other companies will be forced to do the same.

This is a simplistic worldview of the economy and of the real world of economics, but you don't expect much else from the economically illiterate. Marxists simply do not understand business and the marketplace, they have no understanding of value, the fact they think value is something endogenous regarding price, never let alone objective tells you all there is to know that you can't take them seriously on economics. The history has been strongly against socialism as I've argued numerous times and no different to all their other flawed theories they create up in their own head, this theory is no different. It has nothing in history to back it with.

The history of the failed attempt of the predatory pricing example against Herbert Dow illustrates why the falling rate of profit is deeply flawed, furthermore, the examples of Soviet Union production illustrates a contradiction to their Labour Theory of Value and in the real world with value being subjective as I've explained numerous times before and in this video, I cover why their theory has no basis for the real world.

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