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And yet it moves (down)

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  • Maito, Esteban Ezequiel

Abstract

The article presents an estimate of the rate of profit in United Kingdom between 1855 and 2009. By isolating some of the countervailing forces specified by Marx of the law of the tendency of the rate of profit to fall, it demonstrates that the law impose despite those countervailing forces, which do not reverse the tendency in the long term. Finally, the article deals with the tendency and economic cycles based on the historical development of the rate of accumulation and the rate of growth of employees. A statistical annex is included at the end.

Suggested Citation

  • Maito, Esteban Ezequiel, 2014. "And yet it moves (down)," MPRA Paper 58007, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:58007
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    File URL: https://mpra.ub.uni-muenchen.de/58007/2/MPRA_paper_58007.pdf
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    References listed on IDEAS

    as
    1. Maito, Esteban Ezequiel, 2014. "The historical transience of capital: the downward trend in the rate of profit since XIX century," MPRA Paper 55894, University Library of Munich, Germany.
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    More about this item

    Keywords

    United Kingdom - Rate of profit - Countervailing forces - Marx - Law of the tendency of the rate of profit to fall;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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