Use this identifier to quote or link this document: http://hdl.handle.net/2072/1933

A foundation model for marxian breakdown theories based on a new falling rate of profit mechanism.
Petith, Howard C.
Universitat Autònoma de Barcelona. Unitat de Fonaments de l'Anàlisi Econòmica; Institut d'Anàlisi Econòmica
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.
2006-05-09
Economia marxista -- Models economètrics
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Working Paper
Working papers; 516.02
         

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