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Tendencias de la rentabilidad y la acumulación en el capitalismo español (1954-2003)

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  • Maximiliano Nieto Ferrández

    (Universidad de Alicante)

Abstract

This paper analyzes the accumulation pattern of Spanish capitalism during the last half a century, based on the evolution of the capital return and the behavior of its main determinants: distribution and technical change. First, it explains the accumulation logic of the theory of work-value and argues that the so-called “law of the falling tendency of the rate of profit” (LTDTG) provides a suitable frame to explain the movements of the capitalist development in the long term. It then shows how this dynamic has materialized in the development of world accumulation since the end of the second world war, and concludes that the evolution of the Spanish capitalism in this period follows the same world pattern, emphasizing its main singularities.

Suggested Citation

  • Maximiliano Nieto Ferrández, 2006. "Tendencias de la rentabilidad y la acumulación en el capitalismo español (1954-2003)," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 8(15), pages 185-206, July-Dece.
    • Handle: RePEc:rei:ecoins:v:8:y:2006:i:15:p:185-206
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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/mnieto15.pdf
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    References listed on IDEAS

    as
    1. Angelo Reati, 1989. "The Rate of Profit and the Organic Composition of Capital in the Post-War Long Wave," International Journal of Political Economy, Taylor & Francis Journals, vol. 19(1), pages 10-32, March.
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      More about this item

      Keywords

      Spanish capitalism; capital return; distribution; technical change;
      All these keywords.

      JEL classification:

      • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
      • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
      • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
      • P17 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Performance and Prospects

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