The historical transience of capital: the downward trend in the rate of profit since XIX century

Maito, Esteban Ezequiel (2014): The historical transience of capital: the downward trend in the rate of profit since XIX century.

Abstract

This paper presents estimates of the rate of profit on fourteen countries in the long run. The performance shows a clear downward trend, although there are periods of partial recovery in both core and peripheral countries. The behavior of the profit rate confirms the predictions made by Marx, about the historical trend of the mode of production. Finally, an estimate of the global rate of profit for the last six decades is done, also highlighting the particular role of China in systemic profitability.

• Item Type: MPRA Paper
• Language: English
• Keywords: rate of profit - Marx - mode of production – core/periphery – world rate of profit
• Subjects: E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E30 - General; F - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment ; Long-Term Capital Movements; N - Economic History > N0 - General; P - Economic Systems > P1 - Capitalist Systems > P10 - General; P - Economic Systems > P1 - Capitalist Systems > P16 - Political Economy

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