The UK rate of profit rose considerably over the inter-war period and hence this period was one of significant recovery for capital, albeit with some volatility. Several decompositions of the profit rate are explored in pursuit of proximate determinants of the rising profit rate. A Marxian...

In the decomposition of the US macroeconomic pre-tax rate of profit as the product of profit share and capital productivity, this paper considers the role of capital productivity over the period 1964--2001. The primary finding is that prior to 1982 capital productivity fell because capital...

Specifying the labour theory of value in a way that distinguishes both productive from unproductive labour, and production workers from supervisory workers, this paper considers distributive shares in the US economy between 1964 and 2001. Trends in productive and unproductive labour are explored...

Responding to criticisms of Mohun (1996) by Houston (1997) and Laibman (1999) in the RRPE, this paper explores the empirical consequences of the competing definitions proposed for productive labor, and concludes that abandoning the productive-unproductive labor distinction renders the Marxian...

Using a particular understanding of the labor theory of value, this paper surveys the criticisms made of the Marxian distinction between productive and unproductive labor, and rejects them as misconceived. The distinction is then used to draw some consequences for how "the rate of exploitation"...