John Passant

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Me quoted in Fairfax papers on tax haven use
Me quoted by Georgia Wilkins in The Age (and other Fairfax publications) today. John Passant, from the school of political science and international relations, at the Australian National University, said the trend noted by Computershare was further evidence multinationals did not take global regulators seriously. ”US companies are doing this on the hard-nosed basis that any [regulatory] changes that will be made won’t have an impact on their ability to avoid tax,” he said. ”They think it is going to take a long time for the G20 to take action, or that they are just all talk.” (1)

Sprouting sh*t for almost nothing
You can prove my 2 ex-comrades wrong by donating to my blog En Passant at BSB: 062914 Account: 1067 5257, the Commonwealth Bank in Tuggeranong, ACT. More... (12)

My interview Razor Sharp 18 February
Me interviewed by Sharon Firebrace on Razor Sharp on Tuesday 18 February. (0)

My interview Razor Sharp 11 February 2014
Me interviewed by Sharon Firebrace on Razor Sharp this morning. The Royal Commission, car industry and age of entitlement get a lot of the coverage. (0)

Razor Sharp 4 February 2014
Me on 4 February 2014 on Razor Sharp with Sharon Firebrace. (0)

Time for a House Un-Australian Activities Committee?
Tony Abbott thinks the Australian Broadcasting Corporation is Un-Australian. I am looking forward to his government setting up the House Un-Australian Activities Committee. (1)

Make Gina Rinehart work for her dole

Real debate?

System change, not climate change

Sick kids and paying upfront




Turnover Time and Marx’s Law of the Tendential Fall in the Rate of Profit

From Canberra comrade Peter Jones a very interesting paper: Abstract: This paper develops a method for quantifying the influence of four factors on the average rate of profit (ROP): the organic composition of capital (OCC), prices of constant capital, the rate of surplus value, and the average turnover time of variable capital. This is applied to data for the US from 1947-2011. The OCC is the largest influence on the ROP, and outside of periods of crisis, it rises consistently. But during 1947-1966 and 1980-97 the ROP was nevertheless able to rise, mainly due to shortening turnover times and cheapening constant capital. During periods of falling profitability these two counter-tendencies were absent or were reversed, leading to the crises of the mid-1970s and recently. This suggests that Marx correctly predicted the main direction of influence of the tendency and each counter-tendency, but that for the ROP to actually fall, capital cheapening and improvements in turnover time generally have to cease.