Capital Intensity, Unproductive Activities and the Great Recession of the US Economy

Lefteris Tsoulfidis () and Dimitris Paitaridis

MPRA Paper from University Library of Munich, Germany

Abstract: The purpose of this article is to show that the ‘great recession’ of 2007 in the USA is of the classical type with basic features the rising value composition of capital which more than fully offset the rising rate of surplus value giving rise to a falling rate of profit. The tendential fall of the latter, from a point onwards, led to a stagnant mass of real net profits, thereby decreased net investment and eventually impacted on employment. The evolution of capital intensity and the consequences of unproductive activities remain key issues in the discussions of capital accumulation and its periodic ruptures

Keywords: Composition of capital; unproductive labour; capital accumulation; rate of profit; growth accounting (search for similar items in EconPapers)
JEL-codes: B5 D33 E1 N12 O51 (search for similar items in EconPapers)
Date: 2017-09-23
New Economics Papers: this item is included in nep-hme and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/81542/1/MPRA_paper_81542.pdf original version (application/pdf)

Related works:
Journal Article: Capital intensity, unproductive activities and the Great Recession in the US economy (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:81542

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().