The Coercive Laws of Competition

In this episode of ACC, Prof. Harvey examines 2 schools of thought within the Marxist tradition, one that focuses on the falling rate of profit, and the other that explores the rising mass. Harvey argues that both schools miss an important contradiction that separates each of them from the other: the role of competition. The coercive laws of competition are crucial for both falling rate of profit and rising mass. He explains why.