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Constant Capital and the Crisis in Contemporary Capitalism: Echoes from the Late Nineteenth Century

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  • Michael Perelman

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    (California State University)

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    Abstract

    Because constant capital involves irreversible decisions, understanding this subject is essential for coming to grips with the complexity of the economy, especially crisis theory. This paper attempts to show how both Marx and late 19th century neoclassical economists in the United States realized that the relative growth of constant capital made competitive economies unsustainable.

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    File URL: http://users.ntua.gr/jea/tua/journl/jea_volume1_issue1_pp34_41.pdf
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    Bibliographic Info

    Article provided by National Technical University of Athens in its journal Journal of Economic Analysis.

    Volume (Year): 1 (2010)
    Issue (Month): 1 ()
    Pages: 34-41

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    Handle: RePEc:tua:journl:v:1:y:2010:i:1:p:34_41

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    Web page: http://www.aked.ntua.gr/
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    1. Constant Capital and the Crisis in Contemporary Capitalism: Echoes from the Late Nineteenth Century
      by mperelman in Unsettling Economics on 2010-11-06 19:47:26

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