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Competition and profitability: A critique of Robert Brenner

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  • Ajit Zacharias

    (The Jerome Levy Economics Institute of Bard College, Blithewood, Annandale-on-Hudson, NY 12504, USA; Tel.: +1-914-758-7734. zacharias@levy.org)

Abstract

Robert Brenner has argued in a recent essay that the decline in manufacturing profitability in the United States since the mid-1960s can be attributed mainly to intensified foreign competition. I attempt to show that Brenner's argument is logically incongruent, and does not fit with the observed behavior of the profit rate and the manufacturing trade balance. I also argue that Brenner's rejection of Marx's theory of the falling profit rate is questionable.

Suggested Citation

  • Ajit Zacharias, 2002. "Competition and profitability: A critique of Robert Brenner," Review of Radical Political Economics, Union for Radical Political Economics, vol. 34(1), pages 19-34, March.
    • Handle: RePEc:sae:reorpe:v:34:y:2002:i:1:p:19-34
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    Cited by:

    1. Vaona, Andrea, 2011. "Profit rate dynamics, income distribution, structural and technical change in Denmark, Finland and Italy," Structural Change and Economic Dynamics, Elsevier, vol. 22(3), pages 247-268, September.

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    Keywords

    Brenner; U.S.; Profit rate;
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