Abstract: The paper presents a foundation model for Marxian theories of the breakdown of capitalism based on a new falling rate of profit mechanism. All of these theories are based on one or more of "the historical tendencies": a rising capital-wage bill ratio, a rising capitalist share and a...

Abstract: The paper presents a foundation model for Marxian theories of the breakdown of capitalism based on a new falling rate of profit mechanism. All of these theories are based on one or more of "the historical tendencies": a rising capital-wage bill ratio, a rising capitalist share and a...

Abstract: Marx and the writers that followed him have produced a number of theories of the breakdown of capitalism. The majority of these theories were based on the historical tendencies: the rise in the composition of capital and the share of capital and the fall in the rate of profit. However...

The paper sets out a one sector growth model with a neoclassical production function in land and a capital-labour aggregate. Capital accumulates through capitalist saving, the labour supply is infinitely elastic at a subsistence wage and all factors may experience factor augmenting technical...

In the 1950s and 60s Meek and Dickinson argued that, in a Marxian model, the rate of profit would first rise and then fall as capital accumulated. In their recent "A History of Marxian Economics", Howard and King accord this argument the same status as the Okishio theorem. This paper reassesses...

A formalization of Elster's interpretation of MArx's theory of revolution is presented in terms of a one sector model with continuous substitution, land as a factor of production and a particular population theory. A long justification for calling such a model Marxian is given. Then it is shown...