Showing 1 - 10 of 31
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...
Persistent link: https://www.econbiz.de/10005823893
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...
Persistent link: https://www.econbiz.de/10005572246
Abstract: This paper sets out a Marxian model that is based on the one by Stephen Marglin with one sector and continuous substitution. It is extended by adding technical progress and land as a factor of production. It is then shown that capital accumulation causes the preconditions for the...
Persistent link: https://www.econbiz.de/10005168480
Abstract: Marx and the writers that followed him have produced a number of theories of the breakdown of capitalism. The …
Persistent link: https://www.econbiz.de/10005572181
A new model of unemployment based on an idea of Marx is presented and used to interpret the development of the British …
Persistent link: https://www.econbiz.de/10005582667
Marglin's neo-Marxian one sector model with continuous substitution is amplified by adding land as a factor of production and technical progress and specialized by using a specific production function and the most simple of saving functions. It is then shown that, under a simple condition on the...
Persistent link: https://www.econbiz.de/10005823887
A formalization of Elster's interpretation of MArx's theory of revolution is presented in terms of a one sector model …
Persistent link: https://www.econbiz.de/10005168464
this last work. The main conclusions are first, that Marx had an intrinsic explanation of the falling rate of profit but …
Persistent link: https://www.econbiz.de/10005823935
Abstract: This paper examines, both descriptively and analytically, Marx's arguments for the falling rate of profit … Collected Works and Chapter 3 of Volume III of Capital. The conclusions are as follows: First, Marx realised that his main … finally, in Chapter 3 of Volume III, Marx says that it is resource scarcity that causes the fall in the rate of profit …
Persistent link: https://www.econbiz.de/10005168482
section of the first version of Volume III of Capital. It then considers Part III of Volume III, the evolution of Marx …'s thought and various interpretations of his theory in the light of this analysis. It is suggested that Marx thought that the … conclusions are: 1. Marx's major attempt to show that the rate of profit must fall occurred in the general law section. 2. Part …
Persistent link: https://www.econbiz.de/10005168518