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On the Marxian law of the falling rate of profit and Marx-biased technical change

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Author Info
Capaldo Jeronim
Abstract

Karl Marx was one of the first analysts of capitalism’s trends and problems. Here I offer a formal exposition of his thesis that the rate of profit tends to fall as a consequence of capital accumulation and analyze the most well-known counter-arguments. I then use the framework developed in the text to suggest a particular standpoint from which to look at development policy.

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File URL: http://wp.comunite.it/data/wp_no_29_2007.pdf
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Paper provided by Department of Communication, University of Teramo in its series wp.comunite with number 0029.

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Date of creation: Nov 2007
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Handle: RePEc:ter:wpaper:0029

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  1. William Easterly, 2007. "Was Development Assistance a Mistake?," American Economic Review, American Economic Association, vol. 97(2), pages 328-332, May. [Downloadable!]
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