Episode 119: Marx’s Falling Rate of Profit—Ralph Keller Calls Out Seth Ackerman’s “Dead Dog Treatment,” Refutes Error

Gabriel and Andrew welcome Ralph Keller, author of the just-published article, “Treating the TSSI Like a Dead Dog: A Response to Seth Ackerman,” which responds to a 2023 piece by Ackerman published in Jacobin. Ralph explains why he decided to respond and why he regards Ackerman’s conduct as “unscholarly” and “intellectual immorality.” Much of the interview deals with the “Okishio theorem”—which tried to refute Marx’s falling-rate-of-profit theory—including the fact that proponents of the temporal-single-system interpretation (TSSI) of Marx’s theory have disproven the “theorem.” Ralph calls out Ackerman for ignoring the disproof treating it like a “dead dog”—and endorsing the “theorem” despite it. The co-hosts and Ralph also discuss whether Marx had a breakdown theory, whether he provided a finished falling-rate-of-profit theory, his ”failure” to prove that the rate of profit must fall, and more. Toward the end of the interview, Andrew and Ralph discuss their forthcoming article that analyzes Ackerman’s revised rate of profit. The reason his revised rate of profit skyrockets from 1985 onward, they contend, is that Ackerman egregiously misused simulation results pertaining to depreciation.

Plus current-events segment: Implications of Joe Biden’s Abysmal Debate Performance.

SUMMER 2024 SCHEDULE: We intend to release new eps once a month, on the first Friday of the month.
The next episode, Ep. 120, is slated for release on August 2. The regular schedule will resume with Ep. 121, slated for release on Sept. 6.

Radio Free Humanity is a podcast covering news, politics and philosophy from a Marxist-Humanist perspective. It is co-hosted by Gabriel Donnelly and Andrew Kliman. We intend to release new episodes every two weeks.

Radio Free Humanity is sponsored by MHI, but the views expressed by the hosts and guests of Radio Free Humanity are their own. They do not necessarily reflect the views and positions of MHI.

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