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A History of the Relationship Between Interest Rate and Profit Rate in Heterodox Approaches

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  • Riccardo Zolea

Abstract

This article seeks to understand, compare, discuss and systematize the theories on the causal relationship between the rate of interest and the rate of profit, as proposed by various authors, while highlighting their similarities and differences. One group of authors asserts that the rate of interest determines the rate of profit, and thus the distribution of income, while a second argues that once the distribution is determined, it is the rate of profit that governs the rate of interest. This attempt to analyze and systematize the main approaches forms a significant first step in understanding contemporary finance.

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  • Riccardo Zolea, 2022. "A History of the Relationship Between Interest Rate and Profit Rate in Heterodox Approaches," International Journal of Political Economy, Taylor & Francis Journals, vol. 51(2), pages 121-136, April.
    • Handle: RePEc:mes:ijpoec:v:51:y:2022:i:2:p:121-136
    DOI: 10.1080/08911916.2022.2072386
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    Cited by:

    1. Enrico Sergio Levrero & Giacomo Sbrenna, 2022. "Some Factors Affecting US Capital Profitability over the Last Decades," Bulletin of Political Economy, Bulletin of Political Economy, vol. 16(2), pages 77-101, December.
    2. Riccardo Zolea, 2024. "An introduction to the distributional role of bank credit to workers in a surplus approach framework," Working Papers PKWP2403, Post Keynesian Economics Society (PKES).
    3. Zolea, Riccardo, 2022. "A Model of the Relationship between the Interest Rate and the Profit Rate," Centro Sraffa Working Papers CSWP55, Centro di Ricerche e Documentazione "Piero Sraffa".

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