IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/22461.html
   My bibliography  Save this paper

Κριτική Έκθεση του "Νόμου της Πτωτικής Τάσης του Ποσοστού Κέρδους" του K. Marx: Κατανομή Εισοδήματος, Επισώρευση Κεφαλαίου και Τεχνολογική Μεταβολή στη Μακρά Περίοδο
[Critical Exposition of The Marxian 'Law of the Falling Rate of Profit': Income Distribution, Capital Accumulation and Technological Change in the Long-run]

Author

Listed:
  • Mariolis, Theodore

Abstract

This essay explores the ralationships between income distribution, capital accumulation and technological change in the long-run. It is shown that a falling rate of profit is not a necessity for the capitalist mode of production.

Suggested Citation

  • Mariolis, Theodore, 2010. "Κριτική Έκθεση του "Νόμου της Πτωτικής Τάσης του Ποσοστού Κέρδους" του K. Marx: Κατανομή Εισοδήματος, Επισώρευση Κεφαλαίου και Τεχνολογική Μεταβολή στη Μακρά Περίοδο [Critical Exposition ," MPRA Paper 22461, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:22461
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/22461/1/MPRA_paper_22461.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Zonghie Han & Bertram Schefold, 2006. "An empirical investigation of paradoxes: reswitching and reverse capital deepening in capital theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 30(5), pages 737-765, September.
    3. Nakatani, Takeshi, 1980. "The Law of Falling Rate of Profit and the Competitive Battle: Comment on Shaikh," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 4(1), pages 65-68, March.
    4. Theodore Mariolis, 2008. "Pure Joint Production, Income Distribution, Employment And The Exchange Rate," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 656-665, November.
    5. Luci Ellis & Kathryn Smith, 2010. "The Global Upward Trend in the Profit Share," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 56(3), pages 231-256.
    6. Neri Salvadori (ed.), 2003. "The Theory of Economic Growth," Books, Edward Elgar Publishing, number 2741.
    7. John Kendrick, 1956. "Productivity Trends: Capital and Labor," NBER Chapters, in: Productivity Trends: Capital and Labor, pages -3-23, National Bureau of Economic Research, Inc.
    8. William Barnett & Apostolos Serletis & Demitre Serletis, 2005. "Nonlinear and Complex Dynamics in Real Systems," GE, Growth, Math methods 0509002, University Library of Munich, Germany.
    9. Harris, Donald J, 1983. "Accumulation of Capital and the Rate of Profit in Marxian Theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 7(3-4), pages 311-330, September.
    10. Salvadori, Neri, 1981. "Falling Rate of Profit with a Constant Real Wage: An Example," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 5(1), pages 59-66, March.
    11. Ian Steedman, 2009. "Many Capital–Output Ratios Increasing With The Interest Rate: An Industry‐Level Analysis," Metroeconomica, Wiley Blackwell, vol. 60(1), pages 150-161, February.
    12. Roemer, John E, 1978. "The Effect of Technological Change on the Real Wage and Marx's Falling Rate of Profit," Australian Economic Papers, Wiley Blackwell, vol. 17(30), pages 152-166, June.
    13. H. D. Dickinson, 1954. "A Note on Dynamic Economics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 22(3), pages 169-179.
    14. Schefold, Bertram, 1976. "Different Forms of Technical Progress," Economic Journal, Royal Economic Society, vol. 86(344), pages 806-819, December.
    15. You, Jong-Il & Dutt, Amitava Krishna, 1996. "Government Debt, Income Distribution and Growth," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(3), pages 335-351, May.
    16. Pratten, Clifford F, 1980. "The Manufacture of Pins," Journal of Economic Literature, American Economic Association, vol. 18(1), pages 93-96, March.
    17. Roemer, John E, 1979. "Continuing Controversy on the Falling Rate of Profit: Fixed Capital and Other Issues," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 3(4), pages 379-398, December.
    18. Larry E. Jones & Rodolfo Manuelli, 1990. "A Convex Model of Equilibrium Growth," NBER Working Papers 3241, National Bureau of Economic Research, Inc.
    19. Steedman, Ian, 1975. "Positive Profits with Negative Surplus Value," Economic Journal, Royal Economic Society, vol. 85(337), pages 114-123, March.
    20. Theodore Mariolis, 2004. "Pure joint production and international trade: a note," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(3), pages 449-456, May.
    21. Schefold, Bertram, 1979. "Capital, Growth, and Definitions of Technical Progress," Kyklos, Wiley Blackwell, vol. 32(1/2), pages 236-250.
    22. Steindl, Josef, 1979. "Stagnation Theory and Stagnation Policy," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 3(1), pages 1-14, March.
    23. Jones, Larry E & Manuelli, Rodolfo E, 1990. "A Convex Model of Equilibrium Growth: Theory and Policy Implications," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 1008-1038, October.
    24. Paul M. Romer, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter.
    25. Shalom Groll & Ze'ev B. Orzech, 1987. "Technical Progress and Values in Marx's Theory of the Decline in the Rate of Profit: An Exegetical Approach," History of Political Economy, Duke University Press, vol. 19(4), pages 591-613, Winter.
    26. John W. Kendrick, 1956. "Productivity Trends: Capital and Labor," NBER Books, National Bureau of Economic Research, Inc, number kend56-1, July.
    27. Steedman, Ian, 1982. "Joint Production and the Wage-Rent Frontier," Economic Journal, Royal Economic Society, vol. 92(366), pages 377-385, June.
    28. Bertram Schefold, 1979. "Capital, Growth, And Definitions Of Technical Progress," Kyklos, Wiley Blackwell, vol. 32(1‐2), pages 236-250, February.
    29. Shaikh, Anwar, 1978. "Political Economy and Capitalism: Notes on Dobb's Theory of Crisis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 2(2), pages 233-251, June.
    30. Okishio, Nobuo, 2001. "Competition and Production Prices," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(4), pages 493-501, July.
    31. John W. Kendrick, 1961. "Productivity Trends in the United States," NBER Books, National Bureau of Economic Research, Inc, number kend61-1, July.
    32. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676.
    33. Bhaduri, Amit & Marglin, Stephen, 1990. "Unemployment and the Real Wage: The Economic Basis for Contesting Political Ideologies," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 14(4), pages 375-393, December.
    34. Taylor, Lance, 1985. "A Stagnationist Model of Economic Growth," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 9(4), pages 383-403, December.
    35. Miller, Jack L & Gowdy, John, 1998. "Vertically Integrated Measures of the Rate of Profit in the United States 1950-90," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 44(4), pages 555-563, December.
    36. Jack L. Miller & John Gowdy, 1998. "Vertically Integrated Measures Of The Rate Of Profit In The United States 1950–90," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 44(4), pages 555-563, December.
    37. Mariolis, Theodore & Soklis, George & Groza, Heleni, 2010. "An Input-Output Approach to the Estimation of the Maximum Attainable Economic Dependency Ratio in four European Economies," MPRA Paper 22661, University Library of Munich, Germany.
    38. Theodore Mariolis, 2008. "Heterogeneous Capital Goods And The Harrod–Balassa–Samuelson Effect," Metroeconomica, Wiley Blackwell, vol. 59(2), pages 238-248, May.
    39. Mariolis, Theodore, 2006. "Distribution and Growth in a Multi-Sector Open Economy with Excess Capacity," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 59(1), pages 51-61.
    40. H. D. Dickinson, 1957. "The Falling Rate of Profit In Marxian Economics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(2), pages 120-130.
    41. Steedman, Ian, 1971. "Marx on the Falling Rate of Profit," Australian Economic Papers, Wiley Blackwell, vol. 10(16), pages 61-66, June.
    42. Spaventa, Luigi, 1970. "Rate of Profit, Rate of Growth, and Capital Intensity in a Simple Production Model," Oxford Economic Papers, Oxford University Press, vol. 22(2), pages 129-147, July.
    43. Blecker, Robert A, 1989. "International Competition, Income Distribution and Economic Growth," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 13(3), pages 395-412, September.
    44. Moses Abramovitz, 1956. "Resource and Output Trends in the United States since 1870," NBER Books, National Bureau of Economic Research, Inc, number abra56-1, July.
    45. Steedman, Ian, 1976. "Positive Profits with Negative Surplus Value: A Reply," Economic Journal, Royal Economic Society, vol. 86(343), pages 604-608, September.
    46. Anwar Shaikh, 1992. "The Falling Rate of Profit as the Cause of Long Waves: Theory and Empirical Evidence," Palgrave Macmillan Books, in: Alfred Kleinknecht & Ernest Mandel & Immanuel Wallerstein (ed.), New Findings in Long-Wave Research, chapter 7, pages 174-202, Palgrave Macmillan.
    47. Moses Abramovitz, 1956. "Resource and Output Trends in the United States since 1870," NBER Chapters, in: Resource and Output Trends in the United States since 1870, pages 1-23, National Bureau of Economic Research, Inc.
    48. Gylfason, Thorvaldur, 1999. "Principles of Economic Growth," OUP Catalogue, Oxford University Press, number 9780198776147.
    49. Reiner Franke, 1999. "Technical Change and a Falling Wage Share if Profits are Maintained," Metroeconomica, Wiley Blackwell, vol. 50(1), pages 35-53, February.
    50. Thomas M. Humphrey, 1997. "Algebraic production functions and their uses before Cobb-Douglas," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 51-83.
    51. Dutt, Amitava Krishna, 1987. "Alternative Closures Again: A Comment on 'Growth, Distribution and Inflation.'," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 11(1), pages 75-82, March.
    52. Mariolis, Theodore, 2007. "Distribution and Growth in an Economy with Heterogeneous Capital and Excess Capacity," MPRA Paper 24042, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mariolis, Theodore, 2007. "Distribution and Growth in an Economy with Heterogeneous Capital and Excess Capacity," MPRA Paper 24042, University Library of Munich, Germany.
    2. Warr, Benjamin & Ayres, Robert U., 2012. "Useful work and information as drivers of economic growth," Ecological Economics, Elsevier, vol. 73(C), pages 93-102.
    3. Soklis, George, 2011. "Wage-profit curves of the Finnish economy: evidence from the supply and use tables," MPRA Paper 30183, University Library of Munich, Germany.
    4. Chad Turner & Robert Tamura & Sean Mulholland, 2013. "How important are human capital, physical capital and total factor productivity for determining state economic growth in the United States, 1840–2000?," Journal of Economic Growth, Springer, vol. 18(4), pages 319-371, December.
    5. Ayres, Robert U, 2001. "The minimum complexity of endogenous growth models:," Energy, Elsevier, vol. 26(9), pages 817-838.
    6. Malcolm Abbott, 2018. "Productivity: a history of its measurement," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2018(1), pages 57-80.
    7. Sandra Silva, 2009. "On evolutionary technological change and economic growth: Lakatos as a starting point for appraisal," Journal of Evolutionary Economics, Springer, vol. 19(1), pages 111-135, February.
    8. Rensman, Marieke, 1996. "Economic growth and technological change in the long run : a survey of theoretical and empirical literature," Research Report 96C10, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    9. repec:dgr:rugsom:96c10 is not listed on IDEAS
    10. G Cameron, 1996. "Innovation and Economic Growth," CEP Discussion Papers dp0277, Centre for Economic Performance, LSE.
    11. M.Rosaria Alfano & A. Laura Baraldi, 2008. "The design of electoral rules and their impact on economic growth: the Italian case," Working Papers 3_2008, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    12. Steinmueller, W. Edward, 2010. "Economics of Technology Policy," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 1181-1218, Elsevier.
    13. Jie Li & Robert Ayres, 2008. "Economic Growth and Development: Towards a Catchup Model," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 40(1), pages 1-36, May.
    14. Eckhard Hein & Artur Tarassow, 2010. "Distribution, aggregate demand and productivity growth: theory and empirical results for six OECD countries based on a post-Kaleckian model," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 34(4), pages 727-754.
    15. Mariollis, Theodore, 2012. "Goodwin’s Growth Cycle Model with the Bhaduri-Marglin Accumulation Function," MPRA Paper 40738, University Library of Munich, Germany.
    16. Ahmed, Elsadig Musa, 2012. "Are the FDI inflow spillover effects on Malaysia's economic growth input driven?," Economic Modelling, Elsevier, vol. 29(4), pages 1498-1504.
    17. Thais Andreia Araujo Souza & Marina Silva Cunha, 2018. "Performance of Brazilian total factor productivity from 2004 to 2014: a sectoral and regional analysis," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 7(1), pages 1-18, December.
    18. Santiago José Gahn & Alejandro González, 2022. "On the empirical content of the convergence debate: Cross‐country evidence on growth and capacity utilisation," Metroeconomica, Wiley Blackwell, vol. 73(3), pages 825-855, July.
    19. Eckhard Hein, 2019. "Harrodian instability in Kaleckian models and Steindlian solutions," FMM Working Paper 46-2019, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    20. Robert A. Blecker, 2016. "Wage-led versus profit-led demand regimes: the long and the short of it," Review of Keynesian Economics, Edward Elgar Publishing, vol. 4(4), pages 373-390, October.
    21. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.

    More about this item

    Keywords

    Law of the falling rate of profit; Okishio theorem; Sraffian theory; Post-Keynesian theory;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:22461. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.