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A foundation Model for Marxian Breakdown Theories Based on a New Falling Rate of Profit Mechanism [Revised Version]

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dc.creator Petith, Howard
dc.date 2007-11-06T08:44:25Z
dc.date 2007-11-06T08:44:25Z
dc.date 2002-07-15
dc.date.accessioned 2017-01-31T00:58:04Z
dc.date.available 2017-01-31T00:58:04Z
dc.identifier http://hdl.handle.net/10261/1879
dc.identifier.uri http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1879
dc.description Revised Version of UFAE and IAE Working Papers nr. 516.02 (March 2002), URI: http://hdl.handle.net/10261/1866.
dc.description Abstract: 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.description Peer reviewed
dc.language eng
dc.relation UFAE and IAE Working Papers
dc.relation 524.02
dc.rights openAccess
dc.subject Marx, Karl
dc.subject Falling Rate of Profit
dc.subject Breakdown of Capitalism
dc.title A foundation Model for Marxian Breakdown Theories Based on a New Falling Rate of Profit Mechanism [Revised Version]
dc.type Documento de trabajo


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