Meek, Dickinson and Marx's Falling Rate of Profit

H. Petith

UFAE and IAE Working Papers from Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC)

Abstract: In the 1950s and 60s Meek and Dickinson argued that, in a Marxian model, the rate of profit would first rise and then fall as capital accumulated. In their recent "A History of Marxian Economics", Howard and King accord this argument the same status as the Okishio theorem. This paper reassesses the argument. It shows that Dickinson's argument violates a basic tenet of the neo-marxian model but that Meek's example may be consistent with an extended version of the same model.

Keywords: MARXISM; PROFIT (search for similar items in EconPapers)
JEL-codes: B24 E11 (search for similar items in EconPapers)
Date: 1997

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Persistent link: http://EconPapers.repec.org/RePEc:aub:autbar:389.97

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