Competition and profitability: A critique of Robert Brenner

Ajit Zacharias

Review of Radical Political Economics, 2002, vol. 34, issue 1, 19-34

Abstract: Robert Brenner has argued in a recent essay that the decline in manufacturing profitability in the United States since the mid-1960s can be attributed mainly to intensified foreign competition. I attempt to show that Brenner's argument is logically incongruent, and does not fit with the observed behavior of the profit rate and the manufacturing trade balance. I also argue that Brenner's rejection of Marx's theory of the falling profit rate is questionable.

Keywords: Brenner; U.S.; Profit rate (search for similar items in EconPapers)
Date: 2002
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