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Meek, Dickinson and Marx's Falling Rate of Profit

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  • Petith, H.

Abstract

In the 1950s and 60s Meek and Dickinson argued that, in a Marxian model, the rate of profit would first rise and then fall as capital accumulated. In their recent "A History of Marxian Economics", Howard and King accord this argument the same status as the Okishio theorem. This paper reassesses the argument. It shows that Dickinson's argument violates a basic tenet of the neo-marxian model but that Meek's example may be consistent with an extended version of the same model.

Suggested Citation

  • Petith, H., 1997. "Meek, Dickinson and Marx's Falling Rate of Profit," UFAE and IAE Working Papers 389.97, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    • Handle: RePEc:aub:autbar:389.97
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    More about this item

    Keywords

    MARXISM ; PROFIT;

    JEL classification:

    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian

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