Post by: Alan Freeman

EconoFiction

WHAT MAKES THE US PROFIT RATE FALL ?

28 Jun , 2017  

Since world war II there have been two quite distinct phases of world growth. In about 1965, a long slowdown set in which has still not ended. Robert Brenner (2002, 2003) has re-ignited the debate about its causes, claiming that nothing in either present or past economic theory explains it. ...

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EconoFiction

THE PROFIT RATE IN THE PRESENCE OF FINANCIAL MARKETS: A NECESSARY CORRECTION

6 Apr , 2016  

… Most commentators agree on one point: that financial firms do not produce value but appropriate it from value produced elsewhere. They are in some sense not ‘normal capitalists’. This is true, but they do not function without capital. The unaddressed  question is: what does this consist of? The answer ...

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