This paper explores the intricate relationship between profit rates, exchange rates, and terms of trade in the Brazilian economy from 2000 to 2023. Building on Weisskopf's (1979) decomposition of the profit rate, we demonstrate how exchange rates and terms of trade affect profit share, the...

Given the empirical evidence showing the crucial role of income distribution and excessive consumption of richer households in determining greenhouse gas emissions, understanding their connection becomes especially important. Building on the distinction between subsistence and luxury emissions,...

The primary goal of this paper is to present a distributive proposal for reinterpreting Solow's residual and apply it within the Chilean context. We argue that Solow's residual can only indirectly capture technological phenomena. This critique draws upon the contribution of Felipe and McCombie...

The primary goal of this paper is to present a distributive proposal for reinterpreting Solow's residual and apply it within the Chilean context. We argue that Solow's residual can only indirectly capture technological phenomena. This critique draws upon the contribution of Felipe and McCombie...

I study the effect of technical change on the equilibrium profit rate in Classical-Marxian models of economic growth with alternative closures. In each model, capitalists adopt a new technique of production only if it will increase the profit rate given their expectations about the movement of...

Given the empirical evidence showing the crucial role of income distribution and excessive consumption of richer households in determining greenhouse gas emissions, understanding their connection becomes especially important. Building on the distinction between subsistence and luxury emissions,...

The aim of this paper is to analyze the effects of interest rates on rates of capacity utilization, capital accumulation and profit in Italy within a post-Kaleckian theoretical framework. The model employed in the analysis, which was developed by Hein/Schoder (2011), is based on monetary-...

It is assumed that Marx focuses on profits that are to be realized in larger production that permits some surplus production. This understanding underpins the importance of increasing returns embedded in employment dynamics associated with larger employment bases. This organizational form not...

The global hegemony of Britain in the 19th century is hardly a disputed fact. As a global hegemon, it oversaw the transfer of surplus from the underdeveloped world to its shores. The transfer of surplus was important in maintaining its status as a hegemon. In this essay, I underline the need for...

The global hegemony of Britain in the 19th century is hardly a disputed fact. As a global hegemon, it oversaw the transfer of surplus from the underdeveloped world to its shores. The transfer of surplus was important in maintaining its status as a hegemon. In this essay, I underline the need for...

In this paper we present estimates of the world profit rate using country-level data from the Extended Penn World Table 7.0 and industry-level data from the World Input Output Database. The country-aggregated world profit rate series spans the period from 1960 to 2019, and the...

This working paper provides clarification of the sense in which profit rates 'must' be uniform in Sraffa's system of 'production of commodities by means of commodities'; deriving from Sraffa's focus on systemic properties and from his insistence on a holistic perspective that recognizes the...

As part of the literature denying Marx's Law of Tendency of Rate of Profit to Fall, the Okishio theorem exerts extensive influence. This theorem uses rigorous mathematical methods in an attempt to prove that the introduction of advanced technology in the basic goods sector of capitalism leads...

In this paper, we present the foundations and results for a new rent database on mining land in Chile (1940-2017), which takes into account not only the surplus profits of the sector, but also the different mechanisms in which this land is appropriated by other social actors. The results are...

Considering that the rate of profit constitutes a key indicator for the analysis of the evolution of capitalist economies, this chapter proposes to study the case of France from 1896 to 2019, that is, over 124 years in total. From a series of stock of productive capital reconstructed for the...

It is assumed that Marx focuses on profits that are to be realized in larger production that permits some surplus production. This understanding underpins the importance of increasing returns embedded in employment dynamics associated with larger employment bases. This organizational form not...

Purpose - Different from Marx's analysis of the dialectical relationship between the production and realization of surplus value, the Okishio theorem only shows one aspect of the contradictory movement of the total social capital, that is, the reverse effect of the realization of surplus value...

In his macro-monetary interpretation of Marx's theory of value, Fred Moseley claims that Marx's prices of production should be considered as the long-run equilibrium condition of capital reproduction under the assumption of given technology and given capital distribution. Moseley's...

This contribution discusses the real effects of interest-rate policy, as well as its impact on inflation, once the concept of a “natural” real rate of interest is abandoned and interest is viewed as a monetary phenomenon which contributes to determine normal production costs. Attention is...

The following paper presents a model that indicates the relevance of intra-capitalist competition when studying the evolution of the rate of profit. The model explains how the tendency of the rate of profit to fall may emerge in a form of competition not usually studied by previous Marxian...