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Social Structures of disaccumulation: a 101 on the rate of profit and the cause of crisis


  • Freeman, Alan


These educational notes were prepared for a summer camp organised by Ideas Left Out at Elbow Lake, Ontario in the summer of 2015. I suggested to the organisers that I could produce a fairly simplified introduction to the discussion which would be pluralist, in the sense that it would introduce the various conflicting ideas about the cause of crisis and the special role that the rate of profit plays within it. I promised, after the discussion, that I would make the notes available for those who expressed interest but could not attend. Here they are. This article contains a shameless amount of self-reference. This is not just because the referenced articles of my own contain more explanation than is reasonable in a 101 introduction, but because these articles also contain bibliographies which will allow the reader to explore the subject in her own chosen way and at her own chosen pace.

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  • Freeman, Alan, 2015. "Social Structures of disaccumulation: a 101 on the rate of profit and the cause of crisis," MPRA Paper 69649, University Library of Munich, Germany, revised 21 Feb 2016.
  • Handle: RePEc:pra:mprapa:69649

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    References listed on IDEAS

    1. Freema, Alan, 2015. "Going for the Juglar: Keynes, Schumpeter and the Theoretical Crisis of Economics," MPRA Paper 64809, University Library of Munich, Germany, revised 05 Jun 2015.
    2. Freeman, Alan, 2012. "The Profit Rate in the Presence of Financial Markets: a Necessary Correction," MPRA Paper 52625, University Library of Munich, Germany, revised 01 Jul 2012.
    3. Deepankar Basu & Ramaa Vasudevan, 2013. "Technology, distribution and the rate of profit in the US economy: understanding the current crisis," Cambridge Journal of Economics, Oxford University Press, vol. 37(1), pages 57-89.
    4. Alan Freeman, 2010. "Crisis and “law of motion” in economics: a critique of positivist Marxism," Research in Political Economy,in: The National Question and the Question of Crisis, volume 26, pages 211-250 Emerald Publishing Ltd.
    5. Alan Freeman, 2014. "Schumpeter’s theory of self-restoration: a casualty of Samuelson’s Whig historiography of science," Cambridge Journal of Economics, Oxford University Press, vol. 38(3), pages 663-679.
    6. Jan Toporowski, 1999. "Kalecki and the Declining Rate of Profit," Review of Political Economy, Taylor & Francis Journals, vol. 11(3), pages 355-371.
    7. Kliman, Andrew & Freeman, Alan & Potts, Nick & Gusev, Alexey & Cooney, Brendan, 2013. "The Unmaking of Marx’s Capital: Heinrich’s Attempt to Eliminate Marx’s Crisis Theory," MPRA Paper 48535, University Library of Munich, Germany, revised 22 Jul 2013.
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    More about this item


    TSSI; Value Theory; Rate of Profit; Marx; Geopolitical Economy;

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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