Basu, Deepankar; Chen, Ying; Oh, Jong-seok - In: International Review of Applied Economics 27 (2013) 5, pp. 575-596
Building on Marx's insights in Chapter 25, Volume I of Capital, an augmented version of the cyclical profit squeeze (CPS) theory offers a plausible explanation of macroeconomic fluctuations under capitalism. The pattern of dynamic interactions that emerges from a 3-variable (profit share,...