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On the Marxian law of the falling rate of profit and Marx-biased technical change

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  • Capaldo Jeronim

Abstract

Karl Marx was one of the first analysts of capitalism’s trends and problems. Here I offer a formal exposition of his thesis that the rate of profit tends to fall as a consequence of capital accumulation and analyze the most well-known counter-arguments. I then use the framework developed in the text to suggest a particular standpoint from which to look at development policy.

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  • Capaldo Jeronim, 2007. "On the Marxian law of the falling rate of profit and Marx-biased technical change," wp.comunite 0029, Department of Communication, University of Teramo.
    • Handle: RePEc:ter:wpaper:0029
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    1. William Easterly, 2007. "Was Development Assistance a Mistake?," American Economic Review, American Economic Association, vol. 97(2), pages 328-332, May.
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