IDEAS home Printed from https://ideas.repec.org/p/tri/wpaper/1104.html
   My bibliography  Save this paper

Is the Falling Rate of Profit the Driving Force Behind Globalization?

Author

Listed:
  • Miguel Ramirez

    (Department of Economics, Trinity College)

Abstract

This paper examines critically the role of the law of the tendency of the falling rate of profit in the geographic expansion (globalization) of competitive capitalism. It contends that Marx did not believe there was an iron-clad connection between the falling rate of profit and globalization; in addition, it argues that Marx believed that the capitalists’ insatiable search for colonial markets was driven by their desire to overcome recurrent (and growing) realization problems in the home market arising from deficient aggregate demand on the part of both workers and capitalists.

Suggested Citation

  • Miguel Ramirez, 2011. "Is the Falling Rate of Profit the Driving Force Behind Globalization?," Working Papers 1104, Trinity College, Department of Economics.
    • Handle: RePEc:tri:wpaper:1104
    as

    Download full text from publisher

    File URL: http://www3.trincoll.edu/repec/WorkingPapers2011/wp11-04.pdf
    File Function: First version, 2011
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Miguel D. Ramirez, 2018. "The Organic Composition of Capital and Technological Unemployment: Marx's and Ricardo's Intellectual Debt to John Barton and George Ramsay," Working Papers 1708, Trinity College, Department of Economics, revised Aug 2020.
    2. Miguel Ramirez, 2015. "Credit, Indebtedness, and Speculation in the Marxian Paradigm: A Critical Analysis," Working Papers 1507, Trinity College, Department of Economics.
    3. Miguel D. Ramirez, 2019. "Response to Stavros Mavroudeas," Economic Thought, World Economics Association, vol. 8, pages 70-72, December.
    4. Miguel D. Ramírez, 2014. "Credit, The Turnover of Capital, and the Law of the Falling Rate of Profit: A Critical Note," Contributions to Political Economy, Cambridge Political Economy Society, vol. 33(1), pages 61-68.
    5. Trofimov, Ivan D., 2022. "Determinants of the profit rates in the OECD economies: A panel data analysis of the Kalecki's profit equation," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 380-397.
    6. Miguel D. Ramirez, 2019. "Marx and Ricardo on machinery: a critical note," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 26(1), pages 81-100, January.

    More about this item

    Keywords

    Geographic Expansion of Capitalism (Globalization); Law of the Falling Tendency of the Rate of Profit; Underconsumptionist Tendencies; Simple and Expanded Reproduction; Realization Crises.;
    All these keywords.

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:tri:wpaper:1104. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Miguel Ramirez (email available below). General contact details of provider: https://edirc.repec.org/data/edtrius.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.