The Falling Rate of Profit in the Postwar United States Economy

4 avg rating
( 2 ratings by Goodreads )
 
9780333551097: The Falling Rate of Profit in the Postwar United States Economy
View all copies of this ISBN edition:
 
 

The most important conclusion of Marx's theory of capitalism is that the rate of profit would tend to decline as a result of technological change. This book presents a rigorous empirical test of this all-important conclusion by deriving estimates of the Marxian rate of profit and its determinants (the composition of capital and the rate of surplus-value) for the post-World War II US economy in order to determine whether the trends in these variables were in the direction predicted by Marx's theory. Given the long and continuing controversy over this conclusion of Marx's theory, this rigorous empirical test should be of the considerable interest. This book also extends Marx's theory to provide an original explanation of the significant decline in the conventionally-defined rate of profit in the postwar US economy: that this decline was due primarily to a very significant increase in the relative proportion of unproductive labour during this period. This explanation has important implications for the likely future trend of the rate of profit and thus for the likelihood of a full and lasting recovery from the economic crisis of the 1970s-80s.

"synopsis" may belong to another edition of this title.

(No Available Copies)

Search Books:



Create a Want

If you know the book but cannot find it on AbeBooks, we can automatically search for it on your behalf as new inventory is added. If it is added to AbeBooks by one of our member booksellers, we will notify you!

Create a Want

Other Popular Editions of the Same Title

9781349123551: The Falling Rate of Profit in the Postwar United States Economy

Featured Edition

ISBN 10:  1349123552 ISBN 13:  9781349123551
Publisher: Palgrave Macmillan, 1991
Softcover

9780312068882: The Falling Rate of Profit in the Postwar United States Economy

Palgra..., 1991
Hardcover