A model of competition in capitalist economies, based on the works of the classics, is presented. Agents act in disequilibrium by reacting to their observations of disequilibria. They move capital across activities according to profitability differentials. They adjust prices and outputs on the...

We analyse the relationship between the Keynesian (post-Keynesian, Kaleckian) and classical perspectives, emphasizing the distinction between two time frames, short term and long term. A model is presented in which the traverse to a long-term classical equilibrium, with prices of production, is...

This study analyzes the important increase in the rate of profit which occurred in the United States during World War II. The gap between the predepression trend line, from 1900 to 1929, and the postwar line, from 1946 to 1989, is estimated as a shift of 15.8 percent in absolute terms (to be...