Capital accumulation cycles in the Marxist theory
Bernard Dupont ()
Cahiers d’économie politique / Papers in Political Economy, 2014, issue 66, 173-198
This paper reviews the question of cycles in the Marxist theory from the methodological indications given by Marx in the first book of the Capital. It expounds on the properties of a nonlinear dynamic model of accumulation of capital which analyses the interactions between the rate of employment, the rate of surplus value and the composition of capital. An extensive accumulation regime generates endogenous fluctuations. A mixed regime of extensive and intensive accumulation is marked by long waves of employment, surplus value and the rate of profit while capital intensity goes through phases of stagnation and rising.
Keywords: Cycles; Marxian macroeconomics; nonlinear dynamical systems. (search for similar items in EconPapers)
JEL-codes: B51 C61 E11 E32 (search for similar items in EconPapers)
References: Add references at 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: https://EconPapers.repec.org/RePEc:cpo:journl:y:2014:i:66:p:173-198
Ordering information: This journal article can be ordered from
142 rue du faubourg Saint-Martin. 75010 Paris, France.
Access Statistics for this article
Cahiers d’économie politique / Papers in Political Economy is currently edited by Claire Pignol
More articles in Cahiers d’économie politique / Papers in Political Economy from L'Harmattan
Bibliographic data for series maintained by Carlos Andrés Vasco Correa ().