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Productive Activity, Accumulation, and Growth in Postwar Japan and the United States

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  • Rebecca Kalmans

    (State University of New York, Old Wesbury, NY 11568)

Abstract

This empirical study shows that the more rapid postwar economic growth in Japan in comparison to the United States was influenced neither by the higher level nor faster growth of its rate of surplus value, but by less surplus value having been absorbed by unproductive expenditures. Also the slowdown of Japan's growth and the precipitous decline in its profitability after 1970 was not the result of a profit-squeeze due to a falling rate of surplus value, since the Japanese rate of surplus value (like that of the United States) rose over the period

Suggested Citation

  • Rebecca Kalmans, 1997. "Productive Activity, Accumulation, and Growth in Postwar Japan and the United States," Review of Radical Political Economics, Union for Radical Political Economics, vol. 29(2), pages 1-25, June.
    • Handle: RePEc:sae:reorpe:v:29:y:1997:i:2:p:1-25
    DOI: 10.1177/048661349702900201
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    References listed on IDEAS

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    1. Raford Boddy & James Crotty, 1975. "Class Conflict and Macro-Policy: The Political Business Cycle," Review of Radical Political Economics, Union for Radical Political Economics, vol. 7(1), pages 1-19, April.
    2. Okishio, Nobuo, 1959. "Measurement of the Rate of Surplus Value," Economic Review, Hitotsubashi University, vol. 10(4), pages 297-303, October.
    3. Weisskopf, Thomas E, 1979. "Marxian Crisis Theory and the Rate of Profit in the Postwar U.S. Economy," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 3(4), pages 341-378, December.
    4. Howell, David R. & Wolff, Edward N., 1987. "Labor Quality and Productivity Growth in the U.S.: An Input-Output Growth Accounting Framework," Working Papers 87-11, C.V. Starr Center for Applied Economics, New York University.
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