On the Marxian law of the falling rate of profit and Marx-biased technical change
Karl Marx was one of the first analysts of capitalism’s trends and problems. Here I offer a formal exposition of his thesis that the rate of profit tends to fall as a consequence of capital accumulation and analyze the most well-known counter-arguments. I then use the framework developed in the text to suggest a particular standpoint from which to look at development policy.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- William Easterly, 2007. "Was Development Assistance a Mistake?," American Economic Review, American Economic Association, vol. 97(2), pages 328-332, May.
When requesting a correction, please mention this item's handle: RePEc:ter:wpaper:0029. 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: (Giovanni Di Bartolomeo)
If references are entirely missing, you can add them using this form.