The decline of the profit rate since World War II, up to the early 1980s, is now widely acknowledged, and a new upward trend has been identified. This study presents new computations of profit rates using a definition like that used by Marx in Volume III of Capital, where profits correspond to...

This paper is a critique of Alan Freeman's theory of sequential values. In this approach value is conserved from period to period independently of technical change and disequilibrium, contrary to the traditional view that values are reevaluated at each period depending on the existing conditions...

The main purpose of this article is to show that it is possible to construct a model of competition based on the classical perspective (Smith, Ricardo, and Marx). An analysis of the work of the classics is presented, and their views of the workings of competition is contrasted with neoclassical...