What Does Determine the Profit Rate? The Neoclassical Theories Presented in Introductory Textbooks
The theory of the profit rate varies across introductory texts. Economic profits are caused by entrepreneurship or not. Entrepreneurship is a kind of human capital or not. Normal profits are determined in the money market, the market for loanable funds, or a hybrid market involving demand or supply of physical capital. The downward-sloping demand for capital reflects diminishing marginal productivity (the Cambridge controversy is forgotten) or rank-ordered investment projects. The supply is a physical capital stock, accumulated or current saving(s) (or wealth), or desired accumulation. The authors conclude that the inconsistencies and confusions in the textbooks reflect the state of high theory. (c) 1996 Academic Press Limited Copyright 1996 by Oxford University Press.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 20 (1996)
Issue (Month): 1 (January)
|Contact details of provider:|| Postal: |
Fax: 01865 267 985
Web page: http://www.cje.oupjournals.org/
|Order Information:||Web: http://www.oup.co.uk/journals|
When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:20:y:1996:i:1:p:53-71. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.