James Doughney

James Doughney responds to William Jefferies critique of his article “Marx was wrong about the declining rate of profit. Isn’t it time we put this false idea to rest?”.

James Doughney — Careful attention to Marx’s exposition of the theory of the declining rate of profit demonstrates that his theory is not coherent, even in its own terms.

James Doughney interrogates some commonly held beliefs and assumptions about monopoly capital, surplus profits and the export of capital — and explains why they are not coherent.

James Doughney — Lenin’s definition of imperialism offers a comprehensive, interlocking theory, which is why it is not so easy to excise bits and for it to remain Lenin’s theory.

James Doughney — It is hard to avoid thinking that any attempt to airbrush Lenin’s ‘Imperialism’ is a form of avoidance behaviour in the face of awkward but stubborn facts.