1. Causal Laws and Tendencies
Steve Fleetwood
University of the West of England

2. Marxist terminology
The equalisation of the rate of profit should be ‘viewed as a tendency like all other economic laws’ (Marx 1984: 175 emphasis added).
‘tendential law’, ‘law of the tendency’, ‘tendency law’ etc
Tendency: of profits, wages, prices and intensification of labour to equalise; to create a reserve army of labour; towards centralisation and concentration of capital; of the productive forces to develop; to create a world market; and of the rate of profit to decline.
Tendency for men to be paid more than women; white people to be paid more than black people; the tendencies surrounding employment and unemployment etc

3. Three conceptions of law
Law as event regularity
Rooted in the regularity (Humean) view of causation
Rooted the regularity view of law.
Law as event regularity/tendency
Conception (a) in disguise
Rooted the regularity regularity (Humean) view of causation.
Law as tendency
Not rooted in the regularity regularity (Humean) view of causation
Is rooted in the concept of causal power.

4. Six interpretations of tendency Law as event regularity
Trend
yes no ii
Cyclical variation
Stochastically specified law iv
Counterfactual event v
Imprecise/under-elaborated claim vi
Power
Three variations of tendency as power
Tendency as (transfactual) way of acting of a structured entity
Tendency as (transfactual) way of acting of entity experiencing a dialectical contradiction
Tendency as the (transfactual) way of acting of an entity experiencing a tension

5. i) Tendency as a trend
It might be said that the rate of profit will tend to fall over time.
‘empirical research confirms that there is a long-run downward tendency in the rate of profit [a] ‘secularly falling rate of profit’ (Tsaliki & Tsoulfidis 1994: 46)
Tendency refers to (past) empirically observed events, in this case, a decline in the rate over time.

6. ii) Tendency as a cyclical variation
It might be said that the rate of profit will tend to cycle.
‘medium-run long waves, and short run cycles’ (Mosely 1991: 1)
Tendency refers to (past) empirically observed events, in this case, cyclical movements in rates over time.

7. iii) Tendency as a causal law, probabilistically or stochastically specified
It might be said that the rate of profit will tend to fall as the organic composition of capital rises
Strict regularity appertaining to law as regularity is ‘weakened’: event regularity is no longer deterministic but is now stochastic.
Still rooted in an event regularity: the regularity is expressed stochastically.
Tendency refers to the set of (past) empirically observed events, that provide data for a regression analysis to establish whether the independent variables have an effect on the dependent variable

8. iv) Tendency as a counterfactual event
It might be said that the rate of profit would fall if the organic composition of capital rises, assuming technology remains constant, ceteris paribus’
‘The rate of profit would fall if the organic composition of capital rises, not only assuming technology remains constant, but also assuming management practices, marketing practices, industrial relations systems, macro-economic conditions, remain etc, all remain constant, ceteris paribus’.

9. iv) Tendency as a counterfactual event
‘shoehorning…complex social theory into a tractable model’ (‘Three Models of the Falling Rate of Profit’ Michl 1994: 55)
The term ‘tendency’ refers to a counterfactual event in this example, the event is a fall in the rate of profit.

10. v) Tendency as an imprecise and under-elaborated term
These laws [i.e. tendencies] are, presumably, nothing but accurate high-level generalizations concerning a wide range of phenomena (Macbride 1977; 59).
Tendency refers to an under-elaborated, but nevertheless, empirically observed and/or observable event, in this case, a likely fall in the rate.

11. vi) Tendency as power
It might be said that the rate of profit tends to fall, because there is a power at work generating this tendency.
Tendency refers to the power itself.
Tendency is transfactual, not counterfactual

12. First 5 interpretations: commonalities
First 5 interpretations all imply:
a tendency is something to do with the events
these events are (past) empirically observed, or at least (in the case of iv) potentially observable
these events manifest as a regularity of some kind
causal law as regularity/tendency
the tendency is ‘attached’ to the events
regularity/tendency refers to the outcomes of something, not to a something itself

13. 6th interpretation is different to the first 5
Tendency as powers has nothing to do with:
empirical observation
events
law as event regularity
‘weaker’ versions of law/tendency
probabilistic of stochastic law/tendency
the tendency is ‘attached’ to the (as yet unspecified) power
Tendency, does not refer to the outcome of something, but to the something itself

14. First 5 interpretations: ‘flat’ ontology with tendencies
Domain
Entity
Empirical
Experiences & observations
Law as event regularity/tendency where the tendency is an outcome vis-à-vis events
Actual
Events & actions

15. 6th interpretation: ‘layered’ ontology with tendencies
Domain
Entity
Empirical
Experiences & observations
Actual
Events & actions
‘Deep’
Structures, institutions, rules, norms, conventions, resources etc
Law as tendency – where tendency is power

16. Tendency erroneously linked to law
Ohm’s Law
V = I. R
‘Tendentialised’ gives:
V tends to = I. R
Laibman
r* = r + (U/C)
‘Tendentialised’ gives:
r* tends to = r + (U/C)
r* denotes the ‘Marxian’ rate of profit
r denotes the profit rate, P/C
C denotes constant capital
P denotes profit
U denotes the wages of unproductive workers
U/Cdenotes the ratio of unproductive flow to constant capital.

17. Tendency as the (transfactual) way of acting of a structured entity
‘A tendency, in its primary meaning, is a causal power exercised or set in motion’.
We ‘attach’ the tendency to the power and then ‘attach’ the power to the causal mechanism
A tendency, then, is the (transfactual) way of acting of a structured entity.
Structured entity as causal mechanism  power  tendency events

18. Tendency as the (transfactual) way of acting of an entity experiencing a dialectical contradiction
Capital strives to link absolute with relative surplus value...Both tendencies are necessary tendencies of capital... It then appears that the two sided law of capital to link up the greatest absolute mass of necessary labour with greatest relative mass of surplus labour corresponds to an equally two-sided law, on the one hand to transform the largest possible part of the population into a working population, and on the other, to constantly posit part of it as surplus population - population which is useless until such time as capital can utilise it (Rosdolsky 1977: 248-9).

19. Tendency as the (transfactual) way of acting of an entity experiencing a dialectical contradiction
We ‘attach’ the tendency to the power and then ‘attach’ the power to the dialectical contradiction
Tendency is the (transfactual) way of acting of an entity experiencing a dialectical contradiction.
Entity experiencing a dialectical contradiction as generative mechanism power  tendency  events

20. Tendency as the (transfactual) way of acting of an entity experiencing a tension
We ‘attach’ the tendency to the entity ‘attach’ the power to the tension
Entity experiencing a tension as generative mechanism  power  tendency  events

21. Conclusion
Concept of causal law as event regularity/tendency is not really a concept of tendency; it is causal law as event regularity/tendency in disguise.
If the economy is an open system, then event regularity is unlikely to occur and neither, therefore, is law as event regularity/tendency.
The concept of law as event regularity/tendency that underpins terms like ‘tendential law’, ‘law of the tendency’, ‘tendency law’ and variants, is misconceived.
Tendency as powers is not so misconceived
How do we operationalise this conception?
How do we test this conception?