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A Foundation Model for Marxian Breakdown Theories Based on a New Falling Rate of Profit Mechanism

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dc.creator Petith, Howard
dc.date 2007-11-06T08:11:05Z
dc.date 2007-11-06T08:11:05Z
dc.date 2002-03-01
dc.date.accessioned 2017-01-31T00:58:03Z
dc.date.available 2017-01-31T00:58:03Z
dc.identifier http://hdl.handle.net/10261/1866
dc.identifier.uri http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1866
dc.description The paper presents a foundation model for Marxian theories of the breakdown of capitalism based on a new falling rate of profit mechanism. All of these theories are based on one or more of "the historical tendencies": a rising capital-wage bill ratio, a rising capitalist share and a falling rate of profit. The model is a foundation in the sense that it generates these tendencies in the context of a model with a constant subsistence wage. The newly discovered generating mechanism is based on neo-classical reasoning for a model with land. It is non-Ricardian in that land augmenting technical progress can be unboundedly rapid. Finally, since the model has no steady state, it is necessary to use a new technique, Chaplygin's method, to prove the result.
dc.language eng
dc.relation UFAE and IAE Working Papers
dc.relation 516.02
dc.rights openAccess
dc.subject Marx, Karl
dc.subject Breakdown
dc.subject Falling Rate of Profit
dc.title A Foundation Model for Marxian Breakdown Theories Based on a New Falling Rate of Profit Mechanism
dc.type Documento de trabajo


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