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Uniform profit ratios

Author

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  • Kakarot-Handtke, Egmont

Abstract

The equalization of profit rates as the outcome of free competition is one of the oldest tenets in theoretical economics. Being intuitively convincing its premises and implications, though, are not well defined. As Walras put it: ‘To state a theory is one thing; to prove it is another.’ First of all a consistent concept of profit is required. In the present paper the structural axiom set is taken as premise. Thereof the determinants of profit and the profit ratio follow. This makes it possible to definitively state the conditions for uniform profit ratios in a hierarchical market structure.

Suggested Citation

  • Kakarot-Handtke, Egmont, 2011. "Uniform profit ratios," MPRA Paper 32639, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:32639
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    File URL: https://mpra.ub.uni-muenchen.de/32639/1/MPRA_paper_32639.pdf
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    References listed on IDEAS

    as
    1. Kakarot-Handtke, Egmont, 2011. "The pure logic of value, profit, interest," MPRA Paper 30853, University Library of Munich, Germany.
    2. Kakarot-Handtke, Egmont, 2011. "Keynes’s missing axioms," MPRA Paper 32742, University Library of Munich, Germany, revised 11 Aug 2011.
    3. Sheila C. Dow, 2005. "Axioms and Babylonian thought: a reply," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(3), pages 385-391.
    4. Kakarot-Handtke, Egmont, 2011. "Properties of an economy without human beings," MPRA Paper 31497, University Library of Munich, Germany.
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    Cited by:

    1. Kakarot-Handtke, Egmont, 2011. "Squaring the investment cycle," MPRA Paper 32895, University Library of Munich, Germany.

    More about this item

    Keywords

    New framework of concepts; Structure-centric; Axiom set; Financial profit; Competitive structure; Numéraire;

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory

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