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Income distribution, turnover speed and profit rate in Japan, Chile, Netherlands and United States

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  • Maito, Esteban Ezequiel

Abstract

This paper analyzes the valorization process in Chile, Japan, Netherlands and United States, estimating advanced constant and variable capital, turnover speed, capital composition and profit rate on total advanced capital. Furthermore, it analyzes the role of turnover speed in the valorization process. In core countries, turnover speed of capital tends to be higher due to a larger development of productive forces. Thus, in Netherlands, United States and Japan there is higher labor share, representing at the same time, the wage bill adjusted by capital turnover, a lower proportion related to total capital and income, compared to peripheral countries like Chile

Suggested Citation

  • Maito, Esteban Ezequiel, 2014. "Income distribution, turnover speed and profit rate in Japan, Chile, Netherlands and United States," MPRA Paper 59283, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:59283
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    File URL: https://mpra.ub.uni-muenchen.de/59283/3/MPRA_paper_59283.pdf
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    References listed on IDEAS

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    1. Marta Guerriero, 2019. "The Labor Share of Income Around the World: Evidence from a Panel Dataset," ADB Institute Series on Development Economics, in: Gary Fields & Saumik Paul (ed.), Labor Income Share in Asia, chapter 0, pages 39-79, Springer.
    2. Adalmir Marquetti & Eduardo Maldonado Filho & Vladimir Lautert, 2010. "The Profit Rate in Brazil, 1953-2003," Review of Radical Political Economics, Union for Radical Political Economics, vol. 42(4), pages 485-504, December.
    3. Rudy Fichtenbaum, 1988. "'Business Cycles,' Turnover and the Rate of Profit: An Empirical Test of Marxian Crisis Theory," Eastern Economic Journal, Eastern Economic Association, vol. 14(3), pages 221-228, Jul-Sep.
    4. Ximena Aguilar & María Paz Collinao, 2001. "Cálculo del Stock de Capital para Chile 1985-2000," Working Papers Central Bank of Chile 133, Central Bank of Chile.
    5. Freeman, Alan, 2009. "What makes the US Profit Rate Fall?," MPRA Paper 14147, University Library of Munich, Germany.
    6. Fred Moseley, 1989. "The Decline of the Rate of Profit in the Postwar U.S. Economy," International Journal of Political Economy, Taylor & Francis Journals, vol. 19(1), pages 48-66, March.
    Full references (including those not matched with items on IDEAS)

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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Marx’s law of profitability after Capital
      by michael roberts in Michael Roberts Blog on 2021-06-20 08:58:37

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    More about this item

    Keywords

    rate of profit – labor share – turnover speed – value capital composition - annual surplus value rate;

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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