A General Refutation of Okishio’s Theorem and a Proof of the Falling Rate of Profit

Alan Freeman

Chapter 10 in Marxian Economics: A Reappraisal, 1998, pp 139-162 from Palgrave Macmillan

Abstract: Abstract It is almost universally believed that Okishio’s (1961) justly celebrated theorem disproves Marx’s analysis of the tendency of the profit rate to fall, by showing that if real wages stay constant the rate of profit rises as a result of productivity-enhancing technical change. All attempted refutations accept Okishio’s approach which like many others, notably the surplus approach school, is based a system of simultaneous linear equalities.

Keywords: Total Stock; Profit Rate; Transformation Problem; General Equilibrium Theory; Simultaneous System (search for similar items in EconPapers)
Date: 1998
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: A general refutation of Okishio’s theorem and a proof of the falling rate of profit (1998)
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:pal:palchp:978-1-349-26121-5_10

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349261215

DOI: 10.1007/978-1-349-26121-5_10

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().