Wednesday, May 7, 2014
David F. Ruccio — Marx for beginners
Correcting misconceptions about the falling profit rate due to increasing capital intensity. Marx's argument in chapter 3 of Kapital was cet. par. In chapter 4, he brings in conditions in which the rate will not fall.
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Marx for beginners
David F. Ruccio | Professor of Economics University of Notre Dame Notre Dame
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1 comment:
Piketty felt he had to "distance himself" from the one who must be ignored. That is the most likely reason for his misinterpretation of the falling rate of profit.
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