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The Dynamics of Manufacturing-Sector Profit Rates in Seven Industrialized Countries


  • Gyun Gu


With a focus on the manufacturing sector across some member countries of the Organization for Economic Cooperation and Development (OECD), the rate of surplus value and the rate of profit are broken down into analytical components to help understand what has produced their differences among the industrialized countries during the past thirty years. In so doing, the paper illuminates the relationship between the conventional, flow, and political-economy rate of profit. It concludes that the rate of surplus value plays a significant role—to a similar degree across the countries—in determining the profit-rate growth, but capitalist methods to extract surplus value from productive labor vary greatly from country to country, which implies that capitalist means and procedures are produced in a highly complex way by country-specific social, political, economic, and cultural processes.

Suggested Citation

  • Gyun Gu, 2012. "The Dynamics of Manufacturing-Sector Profit Rates in Seven Industrialized Countries," International Journal of Political Economy, Taylor & Francis Journals, vol. 41(3), pages 69-94.
  • Handle: RePEc:mes:ijpoec:v:41:y:2012:i:3:p:69-94 DOI: 10.2753/IJP0891-1916410304

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    References listed on IDEAS

    1. Dimitri Papadimitriou & L. Randall Wray, 1998. "The Economic Contributions of Hyman Minsky: varieties of capitalism and institutional reform," Review of Political Economy, Taylor & Francis Journals, vol. 10(2), pages 199-225.
    2. Yeva Nersisyan & L. Randall Wray, 2010. "The Trouble with Pensions: Toward an Alternative Public Policy to Support Retirement," Economics Public Policy Brief Archive ppb_109, Levy Economics Institute.
    3. Jan Kregel, 2010. "No Going Back: Why We Cannot Restore Glass-Steagall's Segregation of Banking and Finance," Economics Public Policy Brief Archive ppb_107, Levy Economics Institute.
    4. Marshall Auerback & L. Randall Wray, 2010. "Toward True Health Care Reform: More Care, Less Insurance," Economics Public Policy Brief Archive ppb_110, Levy Economics Institute.
    5. Eric Tymoigne & L. Randall Wray, 2009. "It Isn't Working: Time for More Radical Policies," Economics Public Policy Brief Archive ppb_105, Levy Economics Institute.
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