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Notes and Numbers on Marx's Falling Rate of Profit

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  • D. JOHANNES JÜTTNER
  • JOHN H. MURRAY

Abstract

The purpose of this paper is to estimate and investigate the behaviour of Marx's rate of profit for the period 1919 to 1981. The components of this rate, viz. constant and variable capital which are consistently defined as stock variables, surplus value, organic composition of capital and rate of exploitation, are estimaed for two sub periods for the manufacturing and the corporate enterprises sectors respectively. The rate of profit does not exhibit a discernible trend movement over the period of observation. However, it is subject to pronounced pro‐cyclical variations. A similar picture emerges for the organic composition of capital and the rate of exploitation. The results are critically evalualed.

Suggested Citation

  • D. Johannes Jüttner & John H. Murray, 1983. "Notes and Numbers on Marx's Falling Rate of Profit," The Economic Record, The Economic Society of Australia, vol. 59(4), pages 375-383, December.
    • Handle: RePEc:bla:ecorec:v:59:y:1983:i:4:p:375-383
    DOI: 10.1111/j.1475-4932.1983.tb00827.x
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    References listed on IDEAS

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    1. H. D. Dickinson, 1957. "The Falling Rate of Profit In Marxian Economics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(2), pages 120-130.
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