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The Falling Rate of Profit

In: An Essay on Marxian Economics

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  • Joan Robinson

Abstract

It was a generally accepted tenet in the orthodox economics of Marx’s day that there is a long-run tendency for the rate of profit on capital to fall. Marx accepted this view and set himself to account for the phenomenon of falling profits. His explanation does not turn upon the difficulty of realising surplus value — the problem, as we now say, of a deficiency of effective demand — but is intended to be valid even when that problem does not arise.

Suggested Citation

  • Joan Robinson, 1966. "The Falling Rate of Profit," Palgrave Macmillan Books, in: An Essay on Marxian Economics, edition 0, chapter 0, pages 35-42, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15228-5_5
    DOI: 10.1007/978-1-349-15228-5_5
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