And yet it moves (down)

Maito, Esteban Ezequiel (2014): And yet it moves (down). Published in: Weekly Worker No. 1023 (August 2014)

Abstract

The article presents an estimate of the rate of profit in United Kingdom between 1855 and 2009. By isolating some of the countervailing forces specified by Marx of the law of the tendency of the rate of profit to fall, it demonstrates that the law impose despite those countervailing forces, which do not reverse the tendency in the long term. Finally, the article deals with the tendency and economic cycles based on the historical development of the rate of accumulation and the rate of growth of employees. A statistical annex is included at the end.

• Item Type: MPRA Paper
• Language: English
• Keywords: United Kingdom - Rate of profit - Countervailing forces - Marx - Law of the tendency of the rate of profit to fall
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B51 - Socialist ; Marxian ; Sraffian; E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E22 - Investment ; Capital ; Intangible Capital ; Capacity; P - Economic Systems > P1 - Capitalist Systems > P10 - General; P - Economic Systems > P1 - Capitalist Systems > P16 - Political Economy

References

Maito, Esteban Ezequiel (2013) "Distribution, turnover speed and profit rate in Chile, Japan, Netherlands and United States", https://uba.academia.edu/EstebanMaito.

Maito, Esteban Ezequiel (2014) "The historical transience of capital: the downward trend in the rate of profit since XIX century", https://uba.academia.edu/EstebanMaito.

Marx, Karl (1959) "Capital", https://www.marxists.org/archive/marx/index.htm.

Mattick, Paul (1974) "Economic crisis and crisis theory", https://www.marxists.org/archive/mattick-paul/.