Where Do We Go from Here

Duménil and Levy's Economics of the Profit Rate makes major contributions to our theoretical and empirical understanding of advanced capitalist economies. Questions and problems for further research raised by their work concern their definition of stability, the relation of finance to production, the role of the profit rate in the Great Depression, the secular rise in real wages and the pattern of technical change in the U.S. economy, econometric problems identifying low frequency macroeconomic patterns, and the relation of the corporate revolution to macroeconomic performance