Analysis of the Law of Falling Rate of Profit: European Case
Analysis of the Law of Falling Rate of Profit: European Case
Author(s): Víctor M. Fernández-Aguilera, Ignacio Amate-Fortes, Almudena Guarnido-RuedaSubject(s): Marxist economics
Published by: Vysoká škola ekonomická v Praze
Keywords: Marxian economics; falling rate of profit; panel data analysis;
Summary/Abstract: This work aims to analyse the existence or non-existence of a decreasing rate of profitin Europe and determine the factors influencing it according to the Marxist theory of profitability. To do so, a panel data model was estimated for seven European countriesover more than 60 years (from 1960 to 2021, inclusive). The results obtained allow usto verify the tendency for profitability to fall, which could lead the capitalist system to fail.
Journal: Politická ekonomie
- Issue Year: 70/2022
- Issue No: 2
- Page Range: 193-208
- Page Count: 15
- Language: English