Is the Falling Rate of Profit the Driving Force Behind Globalization?

Miguel Ramirez

No 1104, Working Papers from Trinity College, Department of Economics

Abstract: This paper examines critically the role of the law of the tendency of the falling rate of profit in the geographic expansion (globalization) of competitive capitalism. It contends that Marx did not believe there was an iron-clad connection between the falling rate of profit and globalization; in addition, it argues that Marx believed that the capitalists’ insatiable search for colonial markets was driven by their desire to overcome recurrent (and growing) realization problems in the home market arising from deficient aggregate demand on the part of both workers and capitalists.

Keywords: Geographic Expansion of Capitalism (Globalization); Law of the Falling Tendency of the Rate of Profit; Underconsumptionist Tendencies; Simple and Expanded Reproduction; Realization Crises. (search for similar items in EconPapers)
JEL-codes: B10 B14 B24 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2011-05
New Economics Papers: this item is included in nep-his, nep-hme and nep-pke
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www3.trincoll.edu/repec/WorkingPapers2011/wp11-04.pdf First version, 2011 (application/pdf)

Related works:
Journal Article: Is the Falling Rate of Profit the Driving Force Behind Globalization? (2012)
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:tri:wpaper:1104

Access Statistics for this paper

More papers in Working Papers from Trinity College, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Miguel Ramirez ().