المستودع الأكاديمي جامعة المدينة

An Analytic and Descriptive Look at Marx's Own Explanations of the Falling Rate of Profit (second version)

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dc.creator Petith, Howard
dc.date 2007-11-06T08:12:38Z
dc.date 2007-11-06T08:12:38Z
dc.date 2002-11-08
dc.date.accessioned 2017-01-31T00:58:03Z
dc.date.available 2017-01-31T00:58:03Z
dc.identifier http://hdl.handle.net/10261/1867
dc.identifier.uri http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1867
dc.description This paper first appeared as UAB working paper 297.95.
dc.description This paper examines, both descriptively and analytically, Marx's arguments for the falling rate of profit from the Hodgskin section of Theories of Surplus Value, The General Law section of the recently published Volume 33 of the Collected Works and Chapter 3 of Volume III of Capital. The conclusions are as follows: First, Marx realised that his main attempt to give an intrinsic explanation of the falling rate of profit, which occurred in the General Law section, had failed; but he still hoped that he would be able to demonstrate it in the future. Second, the Hodgskin and General Law sections contain a number of subsidiary explanations, mostly related to resource scarcity, some of which are correct. Third, Part III of volume III does not contain a demonstration of the falling rate of profit, but a description of the role of the falling rate of profit in capitalist development. Forth, it also contains suppressed references to resource scarcity. And finally, in Chapter 3 of Volume III, Marx says that it is resource scarcity that causes the fall in the rate of profit described in Part III of the same volume. The key to all these conclusions in the careful analysis of the General Law section.
dc.description Financial aid from DGI project SEC 2000-0684 is gratefully acknowledged.
dc.language eng
dc.relation UFAE and IAE Working Papers
dc.relation 549.02
dc.rights openAccess
dc.subject Marx, Karl
dc.subject Falling Rate of Profit
dc.subject Natural resources
dc.title An Analytic and Descriptive Look at Marx's Own Explanations of the Falling Rate of Profit (second version)
dc.type Documento de trabajo


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