[Byron Macrides]

Particularly this part: “And the results leave little to the imagination: based on the R2, the variance of the relative price of oil explains 66 per cent of the variance of the differential EPS of the oil companies since December 1973, and as much as 73 per cent since January 1980. In other words, oil companies increase their differential EPS mostly through differential inflation. And given the close correlation between net oil profit and OPEC’s oil exports shown in Figure 1, we might expect relative prices to have had a similar impact on the share of OPEC’s oil revenues in global GDP.”

[Byron Macrides]

I see. Thank you for the reply.

Pertaining to the second question, it would then seem that there is not much separating CaSP from say Marxist opposition to capital, other than the theoretical conception of the system, right? Beyond that, it seems you are both fighting the same cause.

[Byron Macrides]

As a bonus, it would be nice to relate answers to other political economic theories (Marxism and Liberalism).

[Author]

Replies