A networkmodel for the complex behavior of the rate of profit: exploring a simulation model with overplapping technological revolutions
Leonardo de Deus (),
Pedro Loureiro and
Eduardo Albuquerque ()
Additional contact information
Leonardo Ribeiro: Inmetro, Rio de Janeiro, Brazil
Pedro Loureiro: SOAS, London, UK
No 555, Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais
This article proposes a network model to replicate the behaviour of the profit rate in the long run. Specifically, it accounts for the results of an empirical investigation of the profit rate in the US, which show that it has fractal properties and its complexity changes over time. The starting point of the model is Marx’s insights on the interplay between the tendency of the rate to fall and its countertendencies. It combines these insights with the persistent generation of new commodities – inventions – and a specific set of new branches of production that triggers technological revolutions. A simulation running this network model successfully replicates historical features of the system.
Keywords: Rate of profit; Technological revolutions; Marx; Complex systems; Metamorphoses of capitalism; Simulation models (search for similar items in EconPapers)
JEL-codes: P16 O33 B51 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cmp, nep-hme and nep-ino
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:cdp:texdis:td555
Ordering information: This working paper can be ordered from
Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil
Access Statistics for this paper
More papers in Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil. Contact information at EDIRC.
Series data maintained by Gustavo Britto ().