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The role of long and short-term dynamics of the US rate of profit in the current crisis

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  • Sergio Cámara Izquierdo

Abstract

The paper analyses the long and short-term dynamics of the US rate of profit in the context of the current crisis. In the long-term, the tendency in the rate of profit to fall is ruled out as the main cause of the crisis. Nonetheless, it is characterised from the structural tendencies of profitability and accumulation; basically, the low levels of profitability and the neoliberal inhibition of productive investment constitute the structural context of the crisis. In the short-term, the bursting of the housing bubble was the precipitating factor of the crisis in the US economy, while the subsequent cyclical downfall of the rate of profit prior to the recession accelerated its outbreak.

Suggested Citation

  • Sergio Cámara Izquierdo, 2014. "The role of long and short-term dynamics of the US rate of profit in the current crisis," International Journal of Management Concepts and Philosophy, Inderscience Enterprises Ltd, vol. 8(1), pages 1-22.
    • Handle: RePEc:ids:ijmcph:v:8:y:2014:i:1:p:1-22
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    Cited by:

    1. Erdogan Bakir & Al Campbell, 2016. "Kalecki and the Determinants of the Profit Rate in the United States," Review of Radical Political Economics, Union for Radical Political Economics, vol. 48(4), pages 577-587, December.
    2. Silvia Domeneghetti & Andrea Vaona, 2015. "Regional aspects of aggregate profitability dynamics in Italy," Working Papers 04/2015, University of Verona, Department of Economics.

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