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The Rate of Profit and the Future of Capitalism

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  • Fred Moseley

    (Mount Holyoke College (Massachusetts), Universidad Autonoma Metrpolitana-Iztapalapa (Mexico City), fmoseley@mnc.mtholyoke)

Abstract

This paper argues that the future of capitalism depends mainly on the rate of profit. Updates of previous estimates of the rate of profit are presented which show that the rate of profit has recovered only about 40 percent of the prior decline in the rate of profit during the 1960s and 1970s, thus suggesting that the current stagnation in the U.S. economy is likely to continue in the foreseeable future. It is argued that the main reason for the lack of a more significant increase in the rate of profit is a continued increase in the relative proportion of unproductive labor.

Suggested Citation

  • Fred Moseley, 1997. "The Rate of Profit and the Future of Capitalism," Review of Radical Political Economics, Union for Radical Political Economics, vol. 29(4), pages 23-41, December.
    • Handle: RePEc:sae:reorpe:v:29:y:1997:i:4:p:23-41
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    Cited by:

    1. Miguel D. Ramirez, 2019. "Marx and Ricardo on machinery: a critical note," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 26(1), pages 81-100, January.
    2. Tomás Gutiérrez-Barbarrusa, 2019. "The interpretation of the cyclical history of capitalism. A comparison between the neo-Schumpeterian and social structure of accumulation (SSA) approaches in light of the long wave theory," Journal of Evolutionary Economics, Springer, vol. 29(4), pages 1285-1314, September.

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