this post was submitted on 14 May 2024
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You're on the right track, but haven't taken it to the logical conclusion. The Tendency for the Rate of Profit to Fall happens beause of competition, and the floor is subsistence. The less labor constitutes the overall value of commodities due to automation, the lower the profit. That's where Imperialism comes in, and as the global south also automates, rates of profit crumble. There's no scenario where Capitalism is maintained.
Socialism gets rid of that issue by abolishing competition and the profit motive. Rather than for exchange, goods are produced for use.
I feel like we're going in circles
Yes, I understand
My question is (1) why can't labor unions fight back against that tendency indefinitely, if given enough power to demand a reasonable share of the extra value of their labor (2) why is socialism guaranteed to get rid of that issue in practice; where has this been tried and worked out that way in reality to make sure it matches the theory
Unions can't fight back against competition being a thing. I think you're confusing RoP with wages.
The Tendency for the Rate of Profit to Fall has been absent from every Socialist country.