Regimes of Realization: Using Marx and Kalecki to Understand the US Economy, including the Great Recession and the “Recoveryâ€

David M. Brennan

Review of Radical Political Economics, 2018, vol. 50, issue 4, 757-772

Abstract: By integrating selected Kaleckian and Marxian insights, this paper analyzes the sources of profit realization and the profit rate in the US economy from 1964–2013. The most significant sources of profit realization in the United States are capitalists’ consumption and workers’ debt, which historically have been under appreciated both theoretically and empirically. The insights gleaned by analyzing the sources of profit realization aid in understanding the Great Recession and the future of the US economy. JEL Classifications: B51, E11

Keywords: Marx; Kalecki; profit rates; profit realization; Great Recession (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:50:y:2018:i:4:p:757-772

DOI: 10.1177/0486613417749596

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