This paper studies the empirical relationship between the Federal funds effective rate and the rate of profit or profit-to-capital ratio in the U.S. economy. The linkages between these two variables are studied: 1) at business-cycle frequencies using various filters and employing...

This article assesses the extent and nature of the stimulus that will be required to end the economic crisis that opened in 2008. It compares the present economic situation to that which opened in 1929 and studies the relation between state spending, investment, and employment.

This paper was presented to the Brasilian Society for Political Economy at its 1998 conference. It presents the principal differences between the temporal and the simultaneist approach to the theory of value. It was the first paper to present a formal conceptual analogy between the temporal...

Michael Heinrich’s recent Monthly Review article claims that the law of the tendential fall in the rate of profit (LTFRP) was not proved by Marx and cannot be proved. Heinrich also argues that Marx had doubts about the law and that, for this and other reasons, his theory of capitalist economic...

This is a prepublication version of the paper published in Review of Political Economy Volume 26, 2010 (http://www.emeraldinsight.com/books.htm?issn=0161-7230&volume=26). It should be cited as Freeman, A. (2010). ‘Crisis and “law of motion” in economics: a critique of positivist...

An explanatory graphic where values and relative prices, expressed in wage units, are represented at different rates of profit - in prices - is attached to the document "Connecting labour values and relative prices" (18017). It is shown that there is a specific rate calculated without reference...

This is a pre-publication of the chapter of the same name which was first published in Freeman et al (2001), reproduced with the kind permission of the publishers. I have re-organized it for scholarly use as a separate text, with the references included and with footnotes instead of endnotes. I...

In the context of the current crisis a vigorous debate is taking place with regard to its’ cause . A debate which has important policy implications in the sense that it justifies or condemns the main reaction policy to the evolution of the crisis i.e. the persistent securitization of financial...

This paper was presented to the May 2013 conference of the Postglobalization Initiative in Moscow, and deals with the function of economics in the modern world order. It seeks to explain why, as a profession (notwithstanding individual exceptions) economics failed to predict the crisis that...

This paper was presented to the joint conference of the AFEP, AHE and IIPPE in Paris, July 2012. A more developed and substantially revised version was presented to the conference on ‘Marxism: Marx and Beyond’ in Calcutta, 22-24 March 2012 and is due to be published. The paper argues that...