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Finance, the Falling Rate of Profit and Economic Devastation

In: The Pathology of the U.S. Economy

Author

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  • Michael Perelman

    (California State University)

Abstract

In this chapter, we shall investigate the contribution of financial forces to the economic decline. Although most economists hold that financial institutions are designed to channel resources into productive activities, they do not necessarily do so. Indeed, the financial pressures associated with a decline can lead investors to withhold their funds from productive activities while they dissipate their funds in investments of the most wasteful sort.

Suggested Citation

  • Michael Perelman, 1993. "Finance, the Falling Rate of Profit and Economic Devastation," Palgrave Macmillan Books, in: The Pathology of the U.S. Economy, chapter 6, pages 145-171, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-22830-0_6
    DOI: 10.1007/978-1-349-22830-0_6
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