Technical Change, Accumulation and the Rate of Profit Revisited

David Laibman
Additional contact information
David Laibman: Department of Economics, Brooklyn College (CUNY), 2900 Bedford Avenue, Brooklyn NY 11210, dlaibman@brooklyn.cuny.edu

Review of Radical Political Economics, 1996, vol. 28, issue 2, 33-53

Abstract: Recent work has drawn attention to the connection between technical change and the labor market. Reasonable assumptions concerning both the reality of positive capital accumulation and the effect of technical change on wage rates reveal the ubiquitous possibility of viable technical changes that raise the composition of capital and lower the rate of profit. A complete non-steady-state growth model including both optimal technical change and labor-market dynamics is described; the model provides a test of the empirical likelihood of an accumulation path with a rising profit share and falling profit rate. A general perspective on the existence and role of critical tendencies in capitalist economic growth is presented.

Date: 1996
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://rrp.sagepub.com/content/28/2/33.abstract (text/html)

Related works:
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:sae:reorpe:v:28:y:1996:i:2:p:33-53

Access Statistics for this article

More articles in Review of Radical Political Economics from Union for Radical Political Economics
Bibliographic data for series maintained by SAGE Publications ().