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Capital Accumulation, the Organic Composition of Capital, the Rate of Profit and the Rate of Exploitation in a Provisional Marxian Model

Author

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  • Petith, H.

Abstract

Marglin's neo-Marxian one sector model with continuous substitution is amplified by adding land as a factor of production and technical progress and specialized by using a specific production function and the most simple of saving functions. It is then shown that, under a simple condition on the production function, the accumulation of capital eventually causes the organic composition of capital to rise, the rate of profit to fall and the rate of exploitation to rise.

Suggested Citation

  • Petith, H., 1998. "Capital Accumulation, the Organic Composition of Capital, the Rate of Profit and the Rate of Exploitation in a Provisional Marxian Model," UFAE and IAE Working Papers 410.98, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    • Handle: RePEc:aub:autbar:410.98
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    More about this item

    Keywords

    CAPITAL ; PRODUCTION FUNCTIONS ; LAND;
    All these keywords.

    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
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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