Abstract This paper was presented to the World Keynes Conference in Denizli, Turkey. Its purpose is to analyse the conditions for a stable exit from Long Depressions, in line with the programme of research outlined in my chapter for the […]
Self-imposed division, overlooked continuity: Marx, Keynes and the Rate of Profit
Ernest Mandel’s contribution to Marxist economic theory, made in the late sixties and early seventies, was in its time without equal. He rescued from oblivion the most central concept available to us today in explaining the dynamics of uneven development
Ernest Mandel’s contribution to Economic Dynamics
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
WHAT MAKES THE US PROFIT RATE FALL ?
… 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
THE PROFIT RATE IN THE PRESENCE OF FINANCIAL MARKETS: A NECESSARY CORRECTION